Coinbase-Incubated Base Faces Major Outage, Assures 'No Funds Are At Risk'
Portfolio Pulse from Benzinga Neuro
Coinbase Global Inc-backed Ethereum Layer-2 network, Base, experienced a significant outage that lasted for an hour. The issue, known as a 'Base chain stall', was promptly identified and fixed. Despite the immediate resolution, an ongoing problem with remote procedure calls delayed the all-clear report by 90 minutes. Base has seen remarkable growth since its launch less than a month ago, with daily transaction volumes surpassing its Ethereum foundation. The recent technical glitch prompted comparisons with other blockchain solutions and their relative stability.
September 06, 2023 | 5:01 am
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NEGATIVE IMPACT
Coinbase-backed Base experiences significant outage, but no funds were at risk.
The outage could negatively impact Coinbase's reputation and investor confidence, potentially leading to a short-term decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Base, an Ethereum Layer-2 network, experienced a significant outage.
The outage could negatively impact Ethereum's reputation and investor confidence in Ethereum-based networks, potentially leading to a short-term decrease in the price of Ethereum.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75