Base Faces First Major Outage, Sparking Concern and Criticism
Base, the Ethereum Layer-2 blockchain incubated by Coinbase, has recently made headlines due to its first major outage, causing significant worry and derision. In less than a month since its launch, the highly popular platform experienced a 33-minute outage, during which no new blocks were produced on the network. The team behind the protocol attributed the delay to internal infrastructure issues. Global Storage Engineer Jarek Piotrowski described the incident as an “outage.”
Similar sentiments were expressed by Ultimate Wallet Community Officer Genry, who jokingly urged the team not to be ashamed of labeling the event as an outage. Base’s recent troubles have raised concerns about centralization and frequent rugpulls within the crypto community.
Base’s Not-So-Perfect Start
Despite amassing over one million users and ranking among the top ten chains by Total Value Locked (TVL), Base has encountered obstacles in its short existence. With a TVL of $405 million, according to Defi Llama, Base holds the eighth position in TVL rankings. However, its success has also attracted malicious actors, resulting in at least three confirmed rugpulls, including a recent $6.5 million loss on Magnate Finance.
In addition to rugpull concerns, Base’s centralization and Coinbase’s potential influence over the network have raised uncertainties. Base has outlined plans to address centralization worries, such as implementing multiple software clients to enhance network resilience, but no specific timeline has been provided.
On the Flipside: Implications of Base’s Outage
Why This Matters
Following its launch, Coinbase aimed to onboard the next billion users through Base. However, frequent network outages could severely impact user experience and hinder the achievement of this goal.
Hot Take
Base’s recent outage serves as a reminder of the challenges that arise with the development and maintenance of blockchain networks. It underscores the importance of robust infrastructure and efficient problem-solving to ensure a seamless and reliable user experience.
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