Coinbase layer-2 network Base suffers first major outage since launch

Coinbase's Ethereum layer-2 network Base experienced its first major outage, lasting for 43 minutes, due to a delay in block production, highlighting the potential risks of using layer-2 networks compared to Ethereum's mainnet.

cointelegraph.com

Relevant topic timeline:

8/3/2023

Coinbase’s blockchain Base to launch to the public next week

The main topic is the launch of Coinbase's layer-2 blockchain Base's mainnet to the public on August 9. Key points include: - Base has been operating on the testnet since late February and launched its "builder only phase" in mid-July. - Users can start bridging their funds onchain to mint NFTs and experience Base. - Base will kick off its Onchain Summer initiative, partnering with consumer brands like Coca-Cola and Atari. - Base has seen over $68 million worth of ether bridged to the network and over $200 million in trading volume and transactions. - The blockchain is partnering with Prop House to offer grants to builders building on Base. - Onchain activity is growing quickly.

8/23/2023

The Protocol: Coinbase Blockchain's Viral Use Case Puts Focus on Optimism's Tech

Coinbase's new Base blockchain, which operates as a layer-2 network atop Ethereum, has gained significant traction with its application Friend.tech attracting over 100,000 users and generating $25 million in fees, pushing its total value locked past $200 million and its transactions per second above Ethereum and rival layer-2 projects Arbitrum and Optimism.

8/23/2023

Coinbase CEO Unveils Key Trigger for Base's Impressive TPS

Base, the Layer 2 scaling solution from Coinbase, has experienced a significant increase in transactions per second (TPS) due to the trend called Friend.tech, according to CEO Brian Armstrong. Base's TPS has exceeded that of Ethereum, with a TPS value up by over 75% in the past week, making it a major L2 protocol to watch out for.

8/31/2023

$16M in crypto lost to hacks in August: Report

Coinbase's layer-2 solution, Base, experienced four security incidents shortly after its launch, resulting in the loss of $15.8 million in cryptocurrencies in August.

9/2/2023

Base Network Rakes in the Fees Riding Crypto's Favorite Memes - Decrypt

Coinbase's layer-2 solution, Base, has become the fastest network to reach 1 million addresses, attracting big brands and generating $3.3 million in profit since its launch.

9/6/2023

‘Sequencers’ Are Blockchain’s Air Traffic Control. Here’s Why They’re Misunderstood

Cheap and speedy layer 2 rollup networks like Arbitrum, Optimism, and Coinbase's Base are gaining popularity as alternatives to the congested Ethereum network, but concerns arise over the centralized nature of their sequencers, which could pose risks such as transaction censorship and system failure. However, experts argue that the bigger security concerns for layer 2 networks lie elsewhere, such as the lack of fraud proofs and escape hatch mechanisms.

9/15/2023

Coinbase's Base Layer 2 Blockchain Surges in Usage, Handling 1.88M Daily Transactions

Coinbase's layer 2 blockchain, Base, has experienced a surge in daily transactions, reaching an all-time high, with the increase mainly driven by a decentralized social network platform called Friend.tech.

Topics

Posted 9/5/2023, 10:49:52 PM

Coinbase layer-2 network Base suffers first major outage since launch

cointelegraph.com

Relevant topic timeline:

8/3/2023

Coinbase’s blockchain Base to launch to the public next week

8/23/2023

The Protocol: Coinbase Blockchain's Viral Use Case Puts Focus on Optimism's Tech

8/23/2023

Coinbase CEO Unveils Key Trigger for Base's Impressive TPS

8/31/2023

$16M in crypto lost to hacks in August: Report

Coinbase's layer-2 solution, Base, experienced four security incidents shortly after its launch, resulting in the loss of $15.8 million in cryptocurrencies in August.

9/2/2023

Base Network Rakes in the Fees Riding Crypto's Favorite Memes - Decrypt

Coinbase's layer-2 solution, Base, has become the fastest network to reach 1 million addresses, attracting big brands and generating $3.3 million in profit since its launch.

9/6/2023

‘Sequencers’ Are Blockchain’s Air Traffic Control. Here’s Why They’re Misunderstood

9/15/2023

Coinbase's Base Layer 2 Blockchain Surges in Usage, Handling 1.88M Daily Transactions