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Coinbase-incubated Base suffers an outage, team says user funds are safe

2 years ago CryptoExpert
Coinbase-incubated Base suffers an outage, team says user funds are safe

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Key takeaways

Base suffers an outage

Base, the Ethereum Layer-2 network incubated by Coinbase suffered an outage during the early hours of Wednesday. The team revealed this on X (formerly Twitter) a few hours ago.

The outage lasted half an hour, and the network was restored 30 minutes after the team identified the problem. The Base team assured users that their funds were not at risk following the outage. 

The development team reported that Base users may have issues submitting transactions at 5:36 p.m. ET on Tuesday. However, they identified and fixed the problem a few minutes later. 

By 6:09 p.m., the network had resumed block production and gossip. Gossip is a technical term for node-to-node exchange of state information.

Base is gaining widespread adoption

The Coinbase-incubated network was launched less than a month ago and is already gaining adoption within the crypto space. So far, more than 100 decentralised applications have been launched on the network.

Data obtained from DeFi Llama also revealed that Base has so far generated roughly $6 million in protocol fees, thanks to its popularity with meme tokens. 

Last week, Base announced native support of Circle’s USDC stablecoin. Base has also integrated with Ledger Live and PancakeSwap DEX. The outage today is the first major technical challenge for Base

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