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🚨 BREAKING: Coinbase's Base has been down for more than 3 hours now.
Block production stalled for over an hour after a single faulty block jammed the network and stopped new blocks from being built. Deposits, withdrawals, and transactions all froze with it.
Base says all user funds are safe, the issue has been traced to a consensus problem, and its sequencer and nodes are starting to recover.
Here is the uncomfortable part. Base is one of the largest chains in crypto, and it runs on a single sequencer operated by Coinbase. One bad block was enough to halt the entire network, because there is no backup sequencer to take over.
This is the tradeoff nobody likes to mention. Base is fast and cheap precisely because it is this centralized, and today handed everyone a live reminder of what that really means.