Coinbase's Base blockchain resumes after two-hour outage disrupted network

Coinbase's Base blockchain resumed operations on June 4, 2024, after a two-hour outage that disrupted transaction processing. The incident, which began around 10:30 AM ET, affected one of Ethereum's largest layer-2 networks, preventing users from submitting new transactions or interacting with smart contracts. The Base team identified the issue as a temporary network congestion caused by a surge in transaction volume. They confirmed that no user funds were at risk during the outage. The network's status page indicated that all systems were operational by approximately 12:30 PM ET. This event highlights the ongoing challenges in maintaining the stability and reliability of high-throughput blockchain networks, particularly those built on Ethereum's infrastructure. The Base network, launched by Coinbase in August 2023, aims to provide a secure, scalable, and developer-friendly platform for decentralized applications.