On March 13th, the layer-2 network Blast, created by Blur founder Tieshun Roquerre, experienced a halt following a significant Ethereum upgrade.
The Blast Mainnet has stopped producing blocks due to issues related to Ethereum’s Dencun upgrade.
Core engineering contributors are working on a fix. We’ll share an update and post-mortem once the fix is live (eta 30-60 min).
— Blast (@Blast_L2) March 13, 2024
The L2 protocol Blast ceased block production after the deployment of Dencun, an Ethereum update aimed at reducing gas fees on layer-2 solutions. This issue was also noted within the cryptocommunity and notably occurred shortly after the successful deployment of the Dencun upgrade on the Ethereum mainnet.
Looks like Blast has stopped producing blocks. Unclear if Blob upgrade related. pic.twitter.com/aaxQJPJaU6
— Steven (@Dogetoshi) March 13, 2024
While the Blast team did not specify the Dencun-related issues, on-chain data revealed that the Blast mainnet stopped finalizing transactions for nearly an hour.
Roquerre, commonly known as Pacman, secured over $20 million in a funding round led by Paradigm and Standard Crypto late last year for the Blast project. Initially, Blast served as a multi-sig address where early supporters could deposit ETH and earn points, with airdrop speculation further encouraging deposits.
Blast L2 reached a peak total value locked (TVL) of $2.3 billion according to DeFiLlama, but dropped to below $650 million after withdrawals were enabled earlier this month. However, its TVL has since surged back above $1 billion.
The latest update from the Blast team indicated that operations had returned to normal, and an analysis of the situation was underway. We will continue to monitor the progress of this story.
The Blast node repo has been updated to include the fix. Devs running their own nodes can `docker compose pull` to get the latest version https://t.co/HHJ1vdvUCV https://t.co/FHnciAMLn6
— Blast (@Blast_L2) March 13, 2024
