Base Chain, a Layer 2 Blockchain on Ethereum, Faces First Major Outage
Coinbase’s Base chain, an Ethereum Layer 2 (L2) blockchain, encountered a significant outage on September 5, about a month after its launch. The outage lasted for 43 minutes, reminding many of the Solana network blackout.
Caution Urged When Using L2 Solutions
Crypto researcher Matt Willemsen advises caution when utilizing L2 solutions, emphasizing that they are not on par with the Ethereum mainnet.
Base Confirms the Outage and Fixes the Issue
Base acknowledged the outage and stated that it was caused by a delay in block production due to the need for infrastructure refreshing. They assured users that no funds were at risk. The problem was identified and resolved, restoring the network to normalcy on September 6.
Comparison Between L2 Chains and Ethereum Mainnet
Willemsen highlights the difference between L2 chains built on Ethereum and the Ethereum mainnet, emphasizing that the mainnet is more battle-tested and involves fewer trust assumptions. However, he does not discourage the use of L2s but advises users to be cautious about their usage.
Base’s Uptime and Recent Outage
Base boasted a 100% uptime on the mainnet until the recent outage. The Bridge had a 99.97% uptime in the last 60 days, with a partial outage on August 29 and 30. The mainnet experienced an operational hurdle, bringing uptime to 99.91%. The testnet has not faced any downtime in the last three months.
Base’s Long-Term Performance and Comparison with Solana
The outage raises questions about Base’s long-term performance and whether it may follow a trajectory similar to Solana’s. Solana has faced network blackouts and outages in the past but showcased improved uptime and strength in 2023. Comparisons are being made between Base and Solana within a month of their respective launches.
Base’s Growing Usage and the Importance of Understanding Risks
The total value bridged on Base is close to $430 million, with increasing daily activity and a growing user base. However, the recent outage serves as a reminder that emerging L2 solutions can experience hiccups that pose risks to users. It is crucial for users to understand the risks and benefits when navigating this segment.
Hot Take: Keep an Eye on Base’s Performance and Learn from Solana’s Journey
The recent outage of Base chain highlights the need for vigilance regarding its long-term performance. By observing Solana’s journey, we can gain insights into the challenges and improvements that may arise in Base’s path. Understanding the risks and benefits of L2 solutions is essential for the crypto community as it continues to evolve.
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