Layer 2 Base Appears First Major Outage Since Launch Coinbase


Layer 2 Base Appears First Major Outage Since Launch Coinbase’s Ethereum layer-2 network, Base, encountered its first major disruption since its public launch on August 9. The outage, which occurred on September 5, resulted in a temporary block production failure. For approximately 45 minutes, no new blocks were produced on the chain. The development team swiftly initiated an investigation and subsequently deployed a fix to address the issue. Block production has since resumed, with network operation and the RPC API returning to normal functionality. Base, launched to improve the efficiency of decentralized applications (dApps) on Ethereum, offers faster and cheaper transactions, full compatibility with the Ethereum Virtual Machine (EVM), and seamless integration with Coinbase products and services. It operates on the OP Stack, an open-source framework for optimistic rollups, in collaboration with Optimism, a leading developer of this technology. The network recently experienced a significant increase in total value locked (TVL), with over $400 million added to its TVL following the introduction of a new decentralized exchange known as Aerodrome. The development showcases the growing interest in Layer 2 solutions and their potential to enhance the Ethereum ecosystem.

Leave a Reply

Your email address will not be published. Required fields are marked *