Blast

Core

Read

<div class="protos">
 <div>
  <div>
   <div>
    <p>A scaling protocol on Ethereum, Blast, stopped producing blocks for approximately an hour today. This was apparently due to the changes made by Dencun, the widely anticipated hard fork of Ethereum.</p>
    <p><a rel="noopener noreferrer nofollow" title="Blast" href="https://thebittimes.com/tag/blast.html">Blast</a> users began complaining on X (formerly Twitter) as early as 10:13 AM New York time. <a rel="noopener noreferrer nofollow" title="Blast" href="https://thebittimes.com/tag/blast.html">Blast</a> fully acknowledged the <a rel="noopener noreferrer nofollow" title="outage" href="https://thebittimes.com/tag/outage.html">outage</a> by 10:41 AM, admitting that the <a rel="noopener noreferrer nofollow" title="layer" href="https://thebittimes.com/tag/layer.html">layer</a> 2 was not processing any transactions. By 11:19 AM, developers had resolved the issue and block production resumed.</p>
    <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
     <div class="wp-block-embed__wrapper">
      <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
       <p lang="en" dir="ltr">The Blast Mainnet has stopped producing blocks due to issues related to Ethereum’s Dencun upgrade. <br><br>Core engineering contributors are working on a fix. We’ll share an update and post-mortem once the fix is live (eta 30-60 min).</p>— Blast (@Blast_L2) March 13, 2024
      </blockquote>
     </div>
    </figure>
    <p>Blast financially incentivized Ethereum users to join their platform with an airdrop and high interest rate offers. To generate these high returns, Blast administrators staked their users’ assets into third-party protocols — initially on Lido’s and Maker’s DAOs.&nbsp;</p>
    <p>As of publication time, users have approximately $2.9 billion worth of assets on Blast’s layer 2, which were presumably frozen during the hour-long outage. Embarrassingly, for Blast, the outage occurred during a live Ask Me Anything livestream with Blast leaders on Discord.</p>
    <p><em>Read more: </em>Seneca Protocol hack highlights dangers of Ethereum’s token approval mechanism</p>
    <p>Before <a rel="noopener noreferrer nofollow" title="Blast" href="https://thebittimes.com/tag/blast.html">Blast</a> launched on mainnet, critics noted a pyramid-shaped drawing of <a rel="noopener noreferrer nofollow" title="Blast" href="https://thebittimes.com/tag/blast.html">Blast</a>’s financial incentives in its early marketing materials. “You get points when your invites get points and their invites get points,” <a rel="noopener noreferrer nofollow" title="Blast" href="https://thebittimes.com/tag/blast.html">Blast</a>’s website once explained, illustrating payouts in the shape of a pyramid rotated 90 degrees.</p>
    <p>Blast leaders claim to have revised these claims and admonished its website designer, contesting that it was ever a pyramid scheme.</p>
    <p>The founder of <a rel="noopener noreferrer nofollow" title="Blast" href="https://thebittimes.com/tag/blast.html">Blast</a> is Tieshun Roquerre (aka Pacman), who is also the creator of NFT marketplace Blur.</p>
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on </em><em>X</em><em>, </em><em>Instagram</em><em>, </em><em>Bluesky</em><em>, and </em><em>Google News</em><em>, or subscribe to our </em><em>YouTube</em><em> channel.</em></p>
   </div>
  </div>
 </div>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-s-dencun-causes-blast-layer-2-outage-protos-tbt82467.html">https://thebittimes.com/ethereum-s-dencun-causes-blast-layer-2-outage-protos-tbt82467.html</a></p>

Ethereum’s Dencun causes ‘Blast’ layer 2 outage | Protos

TheBitTimes

Other articles published on Mar 13, 2024

Why Bitcoin’s rise to $72,000 is just the beginning

Bitcoin’s Momentum Surges Past $73,000

Nigeria’s Cryptocurrency Landscape Faces Shifts Amid Binance Exit: Opportunities and Concerns Emerge

Jury Verdict: Bitcoin Fog Founder Convicted in Major Crypto Money Laundering Case

Shiba Inu experienced a momentary 50% price drop on Coinbase.

Crypto Thief Behind $23.5 Million Bitrue Heist Resurfaces, Sells Millions in Ethereum

Join our free newsletter for daily crypto updates!