CORRECT (Aug. 5, 10:00 UTC): Modifications reference to first outage since 2023. An earlier model of this story stated the outage was the blockchain's first since its debut.
Base, Coinbase’s (COIN) Ethereum layer-2 scaling product, floor to a halt for the primary time since 2023, disabling essential features together with block manufacturing, deposits, withdrawals and flashblock operations for 29 minutes earlier than service resumed.
The incident occurred at 06:15 UTC on account of an “unsafe head delay,” in keeping with Base’s incident standing web page. That could be a technical fault disrupting the community's capacity to verify and produce blocks.
The staff responded at 06:43 UTC that it was investigating the stoppage, and only a minute later reported the problem had been recognized and resolved, with monitoring put in place to make sure no additional problems emerged.
The outage is the primary since September 2023, when the blockchain went down for about 45 minutes.
Although transient, the outage is critical given Base's rising function within the Ethereum layer-2 ecosystem. Since its introduction, Base has accrued $4.2 billion in complete worth locked (TVL). A considerable portion of this, some $1.5 billion, is tied to the Morpho lending protocol, in keeping with information from DeFiLlama.
UPDATE (Aug. 5, 10:10 UTC): Provides earlier outage in penultimate paragraph.
