Key Points
- The Blast network has halted block production due to complications associated with Ethereum's Dencun upgrade.
- Several protocols, such as Orbit Protocol, Ring Protocol, and Pac Finance, are built on or have expanded to the Blast network.
The Blast network, an experimental Layer 2 network constructed on the foundation of Ethereum, has ceased generating blocks. This interruption occurred approximately at 14:05 GMT, as per a Blast block explorer.
Ethereum's Dencun Upgrade Causes Issues
The halt in block production is attributed to issues stemming from Ethereum's Dencun upgrade. The project's core engineering contributors are currently working on a solution, with an estimated completion time of 30 to 60 minutes.
Impact on the Blast Network
The Blast network is renowned for offering native yield on assets. The network's total value locked in smart contracts, or held within its Ethereum multi-sig wallet, is approximately $2.96 billion. This information is according to L2 Beat, a reliable source for Layer 2 data.
The Blast network has been a platform for the development or expansion of several protocols. These include Orbit Protocol, Ring Protocol, and Pac Finance, which have all utilized the Blast network in their operations.
