Coinbase Cautions of Base Network Congestion, High Fee Menace

Base Network customers are witnessing a high gas hike due to another round of Coinbase congestion that caused related outages previously.

The Base Network has experienced a surge in transaction fees as a result of an additional Coinbase congestion saga, as stated in a published Status Update.

Coinbase Congestion Causes High Gas Fees

The American cryptocurrency exchange issued a status update notifying its users that the Ethereum-based Layer-2 protocol was experiencing an abrupt increase in network traffic, which resulted in a correspondingly high transaction fee.

As a result, Coinbase provided clarification that certain user transactions, which were previously submitted with reduced fees, might remain in the “pending” status.

It is recommended that users who encounter this situation cancel the transaction and resubmit it with the updated transaction gas fee.

Those whose transactions cannot be canceled will be required to wait until Coinbase congestion subsides before the transaction can be finalized at the initial subsidized rate.

In addition, the exchange guaranteed the security of its customers' assets.

Although the Coinbase Wallet team is independently working to implement a “cancel” function for all pending transactions, it has not yet been completed.

Due to the congestion, the exchange believes that certain Coinbase services, including Coinbase Wallet and Coinbase.com, may be impacted; therefore, users are encouraged to exercise patience.

Given the recent occurrence of several outages within the exchange's ecosystem, this Coinbase congestion may not come as a surprise to a significant number of platform users.

Coinbase Outages Becoming Too Frequent

While the price of Bitcoin (BTC) increased last month, several Coinbase users awoke to account balances of $0.

It transpired that a disruption wiped out an astounding $100 billion in Bitcoin market cap in less than 15 minutes.

However, the Coinbase team claimed to have resolved the issue but another outage occurred shortly thereafter.

Amid the all-time high peak (ATH) of Bitcoin earlier this month, Coinbase encountered a subsequent disruption, the third within two weeks.

This prompted crypto commentator MartyParty to accuse the exchange of consistently opting to utilize substandard tools and high-volume vulnerable technologies.

However, Coinbase CEO Brian Armstrong stated that the issue was merely one of enhancing the ecosystem's infrastructure, which had become worn out as a result of the demand exceeding initial projections.

As a result, he declared that Coinbase intends to make infrastructure investments to effectively address the challenge.