Starknet, an Ethereum Layer 2 (L2) scaling network, has resumed its block production after a significant outage that lasted over four hours. On September 2nd, the team announced via X that “block production is back to normal,” confirming that most RPC providers are back up and running. The remaining parties are preparing for their upgrades. The network rolled back to block 1.960.612 to restore service, meaning that approximately an hour of network activity was wiped. This means that transactions submitted between 2:23 and 4:36 UTC will no longer be visible on the blockchain are listed and must be resubmitted.
The team has promised to publish a detailed post-mortem detailing the timeline, the cause, and plans to prevent similar incidents in the future. Before implementing the fix, the team warned users that they were investigating and working to restore services quickly.
Despite this setback, Starknet remains one of the largest L2 ecosystems, with an estimated $550 million in hosted assets, according to data from L2Beat. However, this outage has significantly impacted market sentiment around the digital token of the blockchain network. According to data from CryptoSlate, STRK lost 5% of its value during the outage, trading around $0,123.
The outage occurred less than 24 hours after StarkNet rolled out the "Grinta" update, a release presented as a significant step toward decentralization and improved usability. The upgrade (v0.14.0) introduced a three-tiered Tendermint consensus model to replace the single sequencer. While StarkWare still controls this new system, it is designed to evolve into a fully decentralized model soon.
This release also introduced pre-confirmations, a feature that assigns a provisional status to transactions within half a second, providing near-instantaneous feedback to users. Starknet stated that the update makes block production seven times faster than before, with further speed improvements planned for the future.
The Grinta update also introduced a redesigned fee structure, inspired by Ethereum's EIP-1559. In this new structure, fees include base percentages and optional tips, divided into three categories: L1 gas, L2 gas, and L1 data gas. This model is intended to balance network costs, while generally keeping user fees below three gFRI per L2 gas.
What caused the Starknet outage?
The outage was caused by a disruption that forced the network to roll back to a previous block to restore service. This resulted in the loss of an hour's worth of transactions, which had to be resubmitted.
How did the Grinta update affect the network?
The Grinta update led to faster block production and introduced a new fee structure, improving network performance and increasing usability.
What does this disruption mean for investors?
This disruption could impact STRK's market sensitivity and demonstrates the vulnerability of even established networks. Investors should be vigilant about the impact of technical issues on the value of their assets and overall market dynamics.