Blast, a rising Ethereum layer-2 scaling network, halts block production due to issues related to Ethereum’s Dencun upgrade, but resolves them shortly after. Users continue to pour funds into the network for DeFi opportunities.
Blast, a burgeoning Ethereum layer-2 scaling network, has ceased block production following the much-awaited introduction of the Dencun upgrade to the Ethereum mainnet. The Blast team announced via Twitter at 10:41am ET that they are actively addressing the issue.
"The Blast Mainnet has halted block production due to challenges associated with Ethereum’s Dencun upgrade. Our core engineering team is diligently working on a resolution. We will provide updates and a post-mortem once the fix is implemented (ETA 30-60 min)."
By 11:19am ET, Blast confirmed via Twitter that the issue had been successfully resolved, with the network's explorer indicating resumed block production.
Blast recently initiated its mainnet launch on February 29, following a period of extensive preparation during which users locked up over $2.3 billion worth of crypto assets in the network's Ethereum bridge. The mainnet launch facilitated fund withdrawals, initially resulting in a temporary dip in the $2.3 billion locked tally.
The Blast Mainnet has halted block production due to challenges associated with Ethereum’s Dencun upgrade.
Our core engineering team is diligently working on a resolution. We will provide updates and a post-mortem once the fix is implemented (ETA 30-60 min).
— Blast (@Blast_L2) March 13, 2024
Despite this setback, users are increasingly investing in the network to leverage emerging DeFi protocols and potential token airdrop opportunities, with the network currently boasting over $2.9 billion in total value locked (TVL).
Blast originates from the creators of Blur, a leading Ethereum NFT marketplace, and has similarly utilized airdrop incentives to vie for market dominance against rival platforms.
The Dencun upgrade is anticipated to significantly reduce the costs associated with utilizing layer-2 networks on Ethereum, courtesy of a new feature enabling the network to store information for a limited duration rather than indefinitely.