Blast Mainnet Stops Producing Blocks Following Ethereum Upgrade
Blast, a rising Ethereum layer-2 scaling network, has encountered issues with producing blocks after the launch of the Dencun upgrade to the Ethereum mainnet. The Blast team tweeted that they are currently working on a fix for this problem. Fortunately, at 11:19am ET, Blast announced that the issue had been resolved and blocks were being produced again.
Background on Blast Mainnet Launch
Blast recently launched its mainnet on February 29 after months of preparation. During this time, users locked up over $2.3 billion worth of crypto funds in the network’s Ethereum bridge. The launch of the mainnet allowed users to withdraw their funds, resulting in a temporary decrease in the total locked value.
Increase in Funds Locked in Blast Network
Despite the temporary setback caused by the mainnet launch, users have been increasingly depositing funds into the Blast network. This is driven by the desire to take advantage of emerging DeFi protocols and potential token airdrop opportunities. Currently, there is over $2.9 billion in total value locked (TVL) in the network.
About Dencun Upgrade
The Dencun upgrade is an important development for the Ethereum network. It aims to reduce transaction costs for layer-2 networks by introducing a new feature that allows information to be stored for a limited period of time instead of indefinitely. This enhancement will make it much cheaper to use layer-2 networks.
Editor’s note: This story was updated after publication with new information.
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