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Home»ADOPTION NEWS»Optimism that ETH withdrawals will be paused for an hour next week to test incident response systems
ADOPTION NEWS

Optimism that ETH withdrawals will be paused for an hour next week to test incident response systems

By Crypto FlexsFebruary 10, 20242 Mins Read
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Optimism that ETH withdrawals will be paused for an hour next week to test incident response systems
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Posted 1 minute ago In ~

layer 2 network optimism OP

+5.61%
Ether (ETH) withdrawals will be suspended for one hour on February 15 to test the upgraded incident response system.

According to the Discord announcement, ETH withdrawals from layer 2 networks to the Ethereum mainnet will be paused during this period. Deposits from the mainnet to the layer 2 network and general transactions on the network will not be affected.

The goal is to improve our ability to respond harmoniously to security incidents across the various chains of the Optimism ecosystem.

The incident response system currently features an on-chain pause for Ethereum withdrawals. The new feature pauses the entire superchain, stopping token and NFT withdrawals for Optimism and any Optimism-based chains that have opted in.

OP Labs announced the upgraded system on January 25, saying, “This upgrade does not strengthen individual chains, but leverages the collective security intelligence of the entire superchain.”

The upgraded features are now live on the test network. The one hour pause is just to make sure it works in a live environment.

During downtime, updates will be posted on the network status page.

Optimism Ecosystem

Optimism consists of an ecosystem of layer 2 chains (collectively referred to as Superchains) that leverage optimistic rollups to reduce transaction costs for Dapps. This ecosystem is governed by a DAO known as the Optimism Collective.

The flagship network is the OP mainnet, joined by other networks such as Base and Zora.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Tim is the editor-in-chief of The Block. Before joining The Block, Tim worked as a news editor at Decrypt. He holds a BA in Philosophy from York University and studied News Journalism at Press Association Training. X Follow him at @Timccopeland

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