The layer-2 network Blast, created by Blur founder Tieshun Roquerre, experienced a temporary halt on March 13 following a major Ethereum upgrade. The L2 protocol Blast ceased block production after the deployment of Dencun, an Ethereum update aimed at reducing gas fees on layer-2 solutions. While the Blast team did not specify the exact issues related to Dencun, on-chain data revealed that the Blast mainnet stopped finalizing transactions for nearly an hour.

Core engineering contributors are actively working on a fix, with an estimated time of completion between 30-60 minutes. Once the fix is live, the Blast team plans to provide an update and post-mortem analysis.

Roquerre, also known as Pacman, secured over $20 million in funding last year for the Blast project, with support from Paradigm and Standard Crypto. Blast initially served as a multi-sig address for early supporters to deposit Ether (ETH) and earn points, with additional incentives for airdrop speculation.

Blast L2 saw its total value locked (TVL) peak at $2.3 billion according to DefiLlama, but dropped below $650 million after withdrawals were enabled earlier this month. As of now, the TVL has rebounded to over $1 billion.

The Blast team has confirmed that operations have returned to normal and they are currently conducting an analysis of the situation. The latest update indicates that the issue has been resolved, with a comprehensive analysis set to be shared soon.

Stay tuned for more updates on this developing story.

For further information:
– Blast layer-2 experiences $1.7b withdrawal post-launch

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