The layer-2 Blast network, founded by Blur co-founder Tieshun Rquerre in March 2013, was forced to stop after an Ethereum major. upgrade shipped.
L2 protocol Blast stopped Block production has been halted following the release of Dencun. This Ethereum update was designed to reduce gas costs on layer-2 solutions. Blast didn’t specify Dencun related issues. However, data on the chain showed that Blast mainnet had stopped finalizing transaction for almost an hour.
A fix is being developed by core engineers. After the fix goes live, we will share an updated postmortem. ETA is 30-60 mins.
Blast team on X
Roquerre (also known as Pacman) raised more than $20 million for his project in an investment round that was led by Paradigm & Standard Crypto at the end of last year. Blast started as a multisignature address, where supporters of the project could deposit Ether.ETHAirdrop speculation also incentivized deposits. Deposits were also encouraged by Airdrop speculators.
Per DefiLlama Blast 2 had a total locked value (TVL), at its height, of $2.3 billion. nosedived After withdrawals became possible earlier in the month, TVL fell below $650 millions. As of press time, the TVL is back at $1 billion.
According to the latest report from the team, operations are ongoing. returned An analysis had begun.
The story is still developing.
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Source: crypto.news