Blast, the recently launched layer-2 blockchain, froze up Wednesday amid Ethereum’s major Dencun upgrade.
Blast, which is built atop Ethereum and therefore intrinsically linked to it, posted on X that its mainnet “has stopped producing blocks due to issues related to Ethereum’s Dencun upgrade.”
Amid the snafu, Blast competitor Arbitrum announced that it will take 24 hours to integrate elements of the Dencun upgrade, which will ultimately prompt a reduction in Ethereum fees.
The Blast mainnet went live on Feb. 29 after attracting $2.3 billion worth of deposits following its announcement in November.
The network’s largest protocol, Orbit Finance, experienced a 32% rise in total value locked (TVL) to $431 million over the past 24 hours. The rise couldn’t deter a plunge in the value of Orbit’s native token, which is down by more than 20% today after being issued on March 8.
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