Coinbase's Base resumes block production after 2-hour outage

Outage Details

Coinbase's blockchain Base says a consensus problem knocked its network offline for around two hours on Thursday before it returned online.

Source: Base Build Base creator Jesse Pollack posted to X that all funds on the network are safe, "but a halt is not okay and we'll use this to continue to level up base as a platform for global, 24/7 finance."

Related Context

Related: Coinbase lets users transfer stock portfolios as exchange expands beyond crypto

The downtime appeared to occur separately and just hours ahead of an upgrade for Base, dubbed Beryl, that was scheduled for 6 pm UTC and was completed two hours later at 8 pm UTC. The update aimed to reduce delays on withdrawals and introduce a new token standard for real-world assets and stablecoins.

Industry Parallels

Layer-1 blockchain Sui experienced two periods of downtime on back-to-back days in May, each causing a temporary halt in block production. Sui later said the downtime was caused by a network update that it knew had a low probability of causing a halt.

Magazine: Bitcoin slides to $58K, XRP hits $1 but onchain data promising: Market Moves

More on the subject