Features News Today TheBitTimes.Com

Coinbase’s (NASDAQ: COIN) Layer-2 (L2) network Base is one of the most popular second-layers built on top of Ethereum (ETH). On September 21, Base experienced an outage, going through 20 minutes without producing any blocks, similar to Solana’s outages. The event went unnoticed in the cryptocurrency market, with a discreet communication labeling it “degraded performance ” – after it was resolved. However, the problem was bigger than a simple “degraded performance,” as Base had its block production stalled, being effectively down. Jesse Pollak, creator of Base and leading developer on Coinbase, explained it was the network’s second outage since its creation. The first was resolved faster, leaving the blockchain 15 minutes without new blocks in early September 2023. Picks for you Cardano ‘flashing the...

Base surpassed other layer-2 networks like Optimism and Arbitrum in terms of daily transactions but still lagged behind Polygon and BSC. Coinbase layer-2 network Base hit a new peak in terms of daily transactions , breaking its former record when it was launched in August, according to data from blockchain explorer BaseScan.  Daily transactions chart of layer-2 network Base. Source: BaseScan On Sept. 14, the layer-2 blockchain hit 1.88 million transactions , surpassing its previous record of 1.41 million transactions on Aug. 21 — the month when the network was launched. The layer-2 network surpassed other rival chains like Optimism and Arbitrum, which had a combined 878,000 transactions for the day.  Despite reaching the milestone, the layer-2 network is still lagging behind more prominent blockchains like Polygon and BNB Smart Chain (BSC). Polygon had 2.1 million transactions on the date, while BSC had 3.1 million transactions on the same day. Unlike its previous transaction rec...

RocketSwap Labs plans on reaching out to the exploiter on-chain, who stole an estimated $865,000 from the protocol on Aug. 14. Base project RocketSwap Labs has outlined its emergency programme to bounce back from a brute force hack which swiped $865,000 or 471 Ether (ETH) from the protocol on Aug. 14. The team explained on Aug. 15 that they plan on redeploying a new farm contract and open-source it on-chain, relinquish minting rights — presumably of RCKT — and will soon call on the hackers to return the assets, among other things: The emergency programme agreed upon by the team is as follows. 1. We plan to redeploy a new farm contract by dropping the proxy contract and open sourcing it on-chain. 2. The new farm will advance the production reduction plan by 0.075 per block. 3. The team relinquishes… — RocketSwap (@RocketSwap_Labs) August 15, 2023 On Aug. 14, a hacker stole approximately 471 ETH and bridged it from Base to Ethereum, according to blockchain security firm PeckShi...