Coinbase's | Crypto

Coinbase's blockchain Base says a consensus problem knocked its network offline for around two hours on Thursday before it returned online. Base, the blockchain backed by crypto exchange Coinbase, has returned online after the network suffered nearly a two-hour outage due to a consensus issue that halted block production. Base posted to X on Thursday after the outage that the network’s blocks “are being produced normally, and we have verified widespread recovery in the ecosystem.” Base’s status page said it was investigating “unhealthy” block production at 4:03 pm UTC on Thursday. At 5:21 pm UTC the team said it “isolated a consensus problem that caused an invalid block to be sequenced. This prevented new blocks from being created.” Read more

The Base engineering team said the protocol would remain open-source and encouraged developers to continue building unique implementations. Base, a decentralized Ethereum layer-2 scaling network, said Wednesday that it is transitioning from running on L2 blockchain protocol Optimism’s tech stack to running on its own, unified software architecture. Launched in 2023 as an Optimism chain, Base is shifting to its own tech stack to reduce dependencies on external service providers and shorten the time it takes to ship new upgrades, according to an announcement from Base. The team said: The transition is also expected to simplify the Base network’s sequencer, which helps network validators to order transactions, the Base engineering team said.  Read more

Coinbase's Layer 2 solution, Base, has experienced a net outflow of $4.3 billion this year, reversing its previous position as a top performer.