Coinbase's Ethereum Network Base Faces Major Outage Issues
Coinbase's Layer-2 Network Base Experiences Outage
Base, the popular Layer-2 network by Coinbase built on top of Ethereum (ETH), suffered a significant outage on September 21, lasting for 20 minutes without producing any blocks. This incident has raised questions regarding its operational reliability, similar to past Solana outages, and went largely unnoticed in the cryptocurrency community.
Degraded Performance Communication
- Coinbase's communication regarding the incident described it as degraded performance, which seemed to downplay the outage’s severity.
- Jesse Pollak, Base's creator, confirmed this was the network's second outage since its inception.
Community and Market Reaction
Commentary on social media by influencers like MartyParty highlighted frustrations over the lack of transparent communication by Coinbase. The absence of announcements on the official Discord channel further fueled concerns about how such issues are addressed.
Impact on the Cryptocurrency Market
Despite the outage's severity, Coinbase stock showed resilience, trading at $169.02 post-outage. Base's outages may create uncertainty surrounding the reliability of Ethereum decentralized applications.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.