Degen Chain is an Ethereum Layer 3 network specially built for the meme currency DEGEN. When it was launched in March this year, it also focused on providing "lightning-fast transactions." Unexpectedly, a malfunction occurred in the early morning of this day (13th) and the network stopped outputting. blocks, unable to process transactions, and was disconnected for more than 12 hours.
According to the blockchain browser, Degen Chain stalled at block "#15524774" around 4:15 a.m. and has been unable to verify new transactions for more than 12 hours.
The outage resulted in various decentralized applications and bridges on Degen Chain (including Relay Bridge, DegenSwap, Mint Club, and Frogswap) being completely inoperable, and users of these platforms were unable to perform any transactions.
Degen Chain is built on Arbitrum Orbit, using the Base network as the settlement layer, AnyTrust as the data availability (DA) layer, and using DEGEN tokens as tokens to pay gas fees.
Web3 infrastructure provider Syndicate released Degen Chain in late March this year and has accumulated a total locked value (TVL) of US$2.6 million to date.
As for the meme currency DEGEN, it is an ERC-20 token launched on Base in January this year. It was originally a grand prize token used to reward the Farcaster community. Later, it quickly became a popular token with its unique reward mechanism and meme culture. Meme coins to follow.
It is worth mentioning that the Degen Chain outage does not seem to have affected the activities of DEGEN tokens on the Base chain. So far, it is still running as usual without interruption.
〈Mainly providing "lightning-fast transactions"! Degen Chain crashed and was shut down for more than 12 hours> This article was first published on "Block Guest".
