February 19, 2025
Coinbase Layer-2 Base Has First Major Outage Since Launch

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On 5 September, a ‘base chain stall’ was reported on the network status tracker.

At 21:36 UTC the tracker reported that it was investigating an interruption in the production of blocks.

“Users may be experiencing issues submitting transactions,” it said before adding that it was actively investigating the issue.

After about 20 minutes it identified the problem and started applying the bug fix. As of 22:09 UTC it stated,

“We have deployed a solution and have started to see improvements in block production and chatter.” Gossip refers to the node-to-node exchange of state information.

base chain fixed

However, there have long been problems with remote procedure calls (RPC) on the mainnet. By 23:06 UTC, 1.5 hours after the initial outage, the team reported “We have verified network health and recovery of the RPC API.”

A few hours later, the team reported the incident, attributing it to internal infrastructure issues.

“Earlier today we had a delay in block production due to the need to refresh our internal infrastructure.”

It states that the problem has been identified and resolved and no funds are at risk.

This is the first major outage since the base mainnet went live in mid-July.

Matt Willemsen, head of research at crypto analytics firm Collective Shift, pointed out that using the Ethereum layer-2 network is not the same as using the Ethereum mainnet, “which is more battle-tested and involves fewer trust assumptions.”

Like Solana, Base was promoted as another ‘Ethereum killer’. It has seen its first outage and, like Solana, it is not likely to be its last.

base growth impressive

However, despite this minor setback, the base’s growth since launch has been impressive.

Late last month, Base announced native support of Circle’s USDC. It is also integrated with Ledger Live, 1inch and PancakeSwap DEX.

However, as reported, it has also been a magnet for scammers and fake coins. crypto potato,

According to Dfilma, the base TVL is $409 million. This puts it above Chronos, Thorchain and Cardano for this metric.

In addition, L2beat reports that the optimistic rollup-based network is now the fourth largest layer-2 network, surpassing dYdX, Starknet, and Loopring.

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source: cryptopotato.com

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