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- 1 A 43-minute halt was noted on the Coinbase Layer-2 network Base.
- 2 This is the first outage since its launch and was fixed promptly.
A sudden blackout has taken place on the newly launched Coinbase Layer-2 network, Base. This has disrupted the activities for 43 minutes and a hurried implementation to fix the problem has taken place.
This is the first interruption since its public launch on August 9. The developers recognize the first block production obstruction at 9:36 PM UTC as the Base status site. The production of the block has since resumed. The disruption of activities lasted for a short period and was resolved.
Coinbase Cited the Reason For Outage
Coinbase stated that they have observed a delay in the block production since the internal framework needs the refresh. They have executed a fix and are seeing widespread recovery. The issue is recognized and remediated. They confirm that they are continuously observing the chain for further issues.
The head of research at the crypto education platform, Collective Shift, Matt Willemsen said that the block production started again after facing the first outage. He also highlighted the basic concerns of using Ethereum Layer-2 networks and stated that they are not battle-tested as Ethereum’s mainnet. He further clarified that he does not mean not to use L2 but just to know what you are dealing with.
The incident made X ( previously Twitter) active with the many tweets. One of the tweets says that it’s only a month for Base and cracks are already showing up. The other user tweeted that Base is three times bigger than Cardano but the difference is that Cardano has been here for 3 years while Base is only a month old.
Benefits of Layer 2 Network
A Layer 2 network operates on top of the Ethereum blockchain protocol. It increases the transaction speed and efficiency as it reduces the burden on Layer 1. It processes the transactions off the Ethereum mainnet.
The base has seen explosive growth recently. Last week, it announced its support with USDC and integration with PancakeSwap. It also has partnerships with Chainlink,
Aragon, etc.
It is aimed to improve the scalability with improved user interface. Base inherits the security of Ethereum and it has full compatibility with Ethereum Virtual Machine (EVM) and close ties of cooperation with Coinbase products and services.
The base is built on OP Stack, an open-source framework for creating optimistic rollups. It is in collaboration with Optimism, a foundation that is the leading developer of this technology.
It is made to relieve the congestion on the Ethereum blockchain. The recent outrage of technical glitches is the first incident on Base. Its comparison started with other blockchain solutions like Solana etc. which have faced many outrages.
Summary
The first major blackout on the Base network was noted, it lasted 43 minutes. Although it was remedied immediately, it raised questions from the crypto community, comparisons with other blockchains were drawn. The network has faced its first technical glitch within a month of its launch.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
