Coinbase layer-2 network Base closes in on mainnet launch

Cointelegraph
Cointelegraph

30 Jun 2023 1:27 AM

Coinbase’s new layer 2, Base, is getting closer mainnet launch following six long months of security audits, the Base team said they’ve drawn confidence from finding no critical bugs in Optimism’s tech stack. ...

  • Coinbase's Base protocol, a layer 2 application-focused protocol, is nearing its mainnet launch.
  • The protocol has undergone six months of rigorous security audits, both internally and externally.
  • The completion of these audits fulfills 4 out of 5 criteria for mainnet launch.
  • The other criteria passed include a hard fork in testnet, a successful infrastructure review, and an upgrade to Optimism's technology.
  • Base conducted its own internal audit and invited the community to participate in a public smart contract audit.
  • The final criteria to be fulfilled is demonstrating "testnet stability."
  • Base has built Pessimism, a monitoring tool, to identify any anomalies in the protocol.
  • Coinbase expressed interest in seeing additional features built on Base, such as an inflation-pegged "flatcoin" and an on-chain reputation system.

The article highlights the progress and confidence in Coinbase's Base protocol as it nears its mainnet launch. The completion of security audits and the involvement of the community in the audit process demonstrate a commitment to ensuring a secure and reliable protocol.

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You May Ask

What are the criteria that need to be fulfilled before Base can be launched on the mainnet?How long did the security audits for Base last?What is Pessimism, and what is its purpose in the Base protocol?What additional features does Coinbase want to see built on Base?

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