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Blast Ethereum Layer-2 Scaling Network Faces Block Production Halt
Blast, an up-and-coming Ethereum layer-2 scaling network, has encountered a setback with block production following the much-anticipated launch of the Dencun upgrade on the Ethereum mainnet. The Blast team took to Twitter at 10:41am ET to announce that they are actively working on a solution to address the issue.
“The Blast Mainnet has ceased producing blocks due to challenges associated with Ethereum’s Dencun upgrade. Our core engineering contributors are diligently working on a remedy. We intend to provide an update and a post-mortem report once the fix is implemented, with an estimated time of arrival for the resolution being 30 to 60 minutes,” the team shared.
Blast recently unveiled its mainnet on February 29, following an extended period of anticipation that saw users lock up more than $2.3 billion worth of crypto assets in the network’s Ethereum bridge. The mainnet launch enabled users to withdraw their funds, leading to a temporary decrease in the $2.3 billion total.
Nevertheless, users have been increasingly depositing additional funds into the network to capitalize on emerging DeFi (decentralized finance) protocols and potential token airdrop opportunities. At present, the network boasts over $2.9 billion in total value locked (TVL).
Background and Strategy
Blast is developed by the team behind Blur, a prominent Ethereum NFT (non-fungible token) marketplace, and has implemented airdrop incentives as part of its strategy to gain ground against competitors in the market.
This story is evolving, and we will provide further updates as they become available.
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