The much awaited protocol encountered difficulties handling user transactions and later came under fire on Twitter for modifying certain pledge conditions in real time.
The testnet release on Thursday generated a number of user complaints and insults on Twitter, making the introduction of Coinbase’s new layer 2 blockchain, Base, anything from seamless.
Coinbase’s aim to expand its company into the developer market is fundamentally based on the new Ethereum-focused protocol. This is especially important in light of the recent slowdown in exchange traffic and unimpressive quarterly revenue reports.
Nevertheless, just a few hours after Base’s launch, the network was already having issues, and users flooded social media with complaints about the way the network worked.
“The commencement of Base’s bridge has not been good. No one can understand what is happening because every single transaction is reversing and the bridge contract is unverified, “Alongside an image of an Etherscan transaction list showing what seems to be transaction reversals, Twitter user @0xfoobar wrote:
According to Coinbase, a bug in its wallets wrongly assessed how much gas, or fees, would be needed to process customers’ transactions, which led to the testnet’s operational hiccups.
Because customers spent less gas than was necessary to complete their transactions, Base had to reverse those transactions rather than perform them.
A few hours after the introduction, Roberto Bayardo, a software developer with Coinbase, posted on Twitter, “The bridge contracts drive increase gas use under load, which wallets weren’t correctly estimating.” “Has a higher gas limit hardcoded.”
According to Bayardo, a quick influx of users may have overloaded the protocol and perhaps been the cause of problems on the day the testnet was launched.
People (and bots?) appear to be bridging like crazy, according to a tweet from Bayardo that read: “There are still some additional restrictions that might possibly get reached.”
Adjusting as needed
Once the Base team relaxed a commitment to contribute 20% of its earnings to “supporting public goods,” there was more criticism. @tier10k, a Twitter user, uploaded screenshots of the website.
The website was amended to reflect that Base will pay an unspecified proportion, or a “part of sequencer income,” to public goods, hours after the timestamp on the screenshots.
In order to confirm the amount of money that would be donated to public goods, Coinbase is working with the Optimism Collective and has taken the 20% number off of its website, according to a Coinbase official.
The official explained, “At first, we provided a percentage to that income figure, but we are in the process of completing that percentage, and as a result, we have deleted the particular number from our website until it is set.
Read more here: https://www.coindesk.com/