Ethereum

Blast

Blur

Blast, the layer-2 network created by Blur founder Tieshun Roquerre, halted on March 13 after a major Ethereum upgrade shipped.&nbsp; 
L2 protocol Blast <a href="https://x.com/Blast_L2/status/1767924021872455902?s=20" target="_blank" rel="noreferrer noopener">stopped</a> block production following the deployment of Dencun, an Ethereum update designed to slash gas fees on layer-2 solutions. The Blast team did not specify the Dencun-related issues; however, on-chain data showed that the Blast mainnet ceased finalizing transactions for nearly an hour. 
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 Core engineering contributors are working on a fix. We’ll share an update and post-mortem once the fix is live. ETA 30-60 minutes. <cite>Blast team on X</cite>
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 You might also like: <a href="https://crypto.news/dencun-update-live-ethereum/"> Dencun update goes live on Ethereum mainnet </a> 
Roquerre, commonly known as Pacman, raised over $20 million in a funding round led by Paradigm and Standard Crypto late last year for the project. Blast was initially a multi-sig address where early supporters could deposit Ether (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) and accumulate points. Airdrop speculation also incentivized deposits.&nbsp; 
Blast L2 had a $2.3 billion total value locked (TVL) at its peak per DefiLlama but <a href="https://crypto.news/blast-layer-2-withdrawal-launch/">nosedived</a> below $650 million after withdrawals were enabled earlier this month. At press time, its TVL has surged back above $1 billion. 
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 <img loading="lazy" decoding="async" width="1024" height="373" src="https://crypto.news/app/uploads/2024/03/Screenshot-318-1024x373.png" alt="Blast" class="wp-image-14257994">
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 Blast TVL | Source: <a href="https://defillama.com/chain/Blast" target="_blank" rel="noreferrer noopener">DefiLlama</a>
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The latest update from the team said operations were <a href="https://x.com/Blast_L2/status/1767933586487890427?s=20" target="_blank" rel="noreferrer noopener">returned</a> to normal, and an analysis was underway. 
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 Update: the issue has been resolved. A full analysis on the issue will be shared shortly. <a href="https://t.co/Ggw05W3g3b" target="_blank">https://t.co/Ggw05W3g3b</a>— Blast (@Blast_L2) <a href="https://twitter.com/Blast_L2/status/1767933586487890427?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 13, 2024</a>
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This is a developing story.&nbsp; 
 Read more: <a href="https://crypto.news/blast-layer-2-withdrawal-launch/"> Blast layer-2 experiences $1.7b withdrawal post-launch </a>

Blast mainnet halts for 1 hour due to Ethereum Dencun upgrade obstacle

crypto.news

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