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Binance Temporarily halts Polygon deposit and withdrawal to sync nodes.

The temporary halt by Binance was meant to upgrade and synchronize the nodes since the bug issue has been resolved and the network is stable now.

The world’s largest crypto exchange by trading volume, Binance, announced earlier on Tuesday that it will temporarily halt deposits and withdrawals for Polygon (MATIC) Network.

The announcement came in the wake of the Polygon network’s outage since March 11 after a network upgrade. Upon the network becoming stable, deposit and withdrawal options will be reopened, according to the crypto exchange.

Polygon is a layer-2 Ethereum scaling solution with millions of users and an evolving ecosystem. On March 11, one of the three layers of the network underwent an essential upgrade, but the three layers could not reach a consensus following the upgrade due to a suspected bug, resulting in the downtime.

Polygon developer account on Twitter noted that the bug issue had been fixed, and the network is stable. It also clarified that Binance is currently upgrading its nodes and syncing data, hence the temporary halt.

Polygon consists of three layers, each of which has a unique function. Smart contracts run on Ethereum, while blocks are generated on the Bor layer. The problem lies in the third Heimdall layer.

Several Heimdall validators were on different versions of the chain due to the suspected bug, preventing consensus at 2/3. Even though the outage for a few hours was expected and Polygon informed the team, the 11-hour extended outage became a cause for concern for many projects and traders.

In December 2021, Polygon Network fixed another upgrade bug after a security partner discovered a vulnerability that could have endangered $24 billion worth of funds. According to the latest Polygonscan data, the network has started producing timely blocks and the team has assured that the network bug has been taken care of.

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