Starknet, one of Ethereum's major Layer 2 networks, experienced downtime on September 2 following the Grinta upgrade.
Starknet Network Disruption
The disruption began around 6:00 AM GMT after the Grinta upgrade, also known as version 0.14.0, went live. Block production halted, and transactions could not be processed. Developers initially indicated that the pause would last about 15 minutes, but actual downtime extended beyond four hours.
Starknet's Role in the Layer 2 Market
The outage highlighted Starknet's importance in Ethereum's scaling market. Layer 2 networks handle transactions off-chain before sending them to Ethereum for settlement. According to L2Beat, Starknet ranked fifth among rollups at the beginning of September, with a processing rate of 7.03 user operations per second.
STRK Token's Response to the Outage
During the outage, Starknet's token STRK experienced a decline. Price data indicated that it traded at $0.1232 while the network was offline, reflecting a 3% decrease over 24 hours. After services resumed, the token was recorded at $0.1235, marking a 3.15% daily loss.
Starknet has resumed its operations and is producing blocks again. Developers have indicated that a detailed report will be released soon.
