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Base hits 1M daily active addresses as Basenames takes off

Coinbase layer-2 network Base has notched a record number of daily active addresses amid a surge in growth of the new “basenames” service. 

Coinbase layer-2 network Base has topped 1 million daily active addresses amid a massive surge in the number of new “basenames” registered on the blockchain. 

Base reached a record 1.05 million daily active addresses on Aug. 24 and has fallen slightly to 1.03 million daily active users as of the time of publication. 

This figure represents a 60% growth in the number of daily active addresses since the start of August.

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Is the scrapping of SAB 121 a poisoned chalice for Bitcoin?

Base suffers first major outage since launch

Block production on Base abruptly halted for 43 minutes as developers rushed to implement a fix.

Coinbase's Ethereum layer-2 network Base has suffer its first major outage since its public launch on Aug. 9.

For approximately 45 minutes on Sept. 5, no new blocks were produced on the Base chain. Its developers first identified the "stalled" block production at 9:36 pm UTC, according to the Base status site.

Block production on the Base network stalled at 9:36pm Sept. 5. Source: BaseScan

“We identified a delay in block production due to part of our internal infrastructure requiring a refresh. We’ve implemented a fix and are seeing widespread recovery,” Coinbase told Cointelegraph in response to a query on the outage. 

Base claims the issue has since been identified with the team now deployed a fix which has seen a "widespread recovery" of block production. It's continuing to monitor the chain for further issues. 

Base developers said the cause of the outage has been identified and fixed. Source: Base

Matt Willemsen, head of research at crypto education platform Collective Shift, highlighted the differences in using Ethereum's Layer 2 networks and claimed they aren't as "battle tested" as Ethereum's mainnet.

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Is the scrapping of SAB 121 a poisoned chalice for Bitcoin?