Coinbase’s Ethereum Layer-2 Network, Base, Nears Mainnet Launch

Crypto News
Crypto News

30 Jun 2023 11:12 AM

Coinbase’s layer 2 blockchain, Base, is preparing its mainnet launch after completing a series of security audits.Read on to learn more....

  • Coinbase's layer 2 blockchain, Base, is preparing for its mainnet launch after completing security audits.
  • Base aims to attract one million new crypto users in the next few years.
  • The code for Base was audited by over 100 people as part of a contest launched by Coinbase.
  • Coinbase's Protocol Security team gave a green flag after auditing Optimism's pre-deployments and smart contracts.
  • The security team used fuzzing techniques to find bugs and developed operational runbooks for risk scenarios.
  • The key management setup and contracts for Base were also reviewed and audited.
  • The mainnet launch date for Base is not yet clear, and it will not feature a native token.
  • Coinbase engaged over 100 security researchers and reported no significant vulnerabilities.
  • The company is actively working to resolve all submissions from researchers.
  • Coinbase is currently facing a legal battle against the US Securities Exchange Commission.

The sentiment of the article is generally positive, highlighting the completion of security audits and the confidence of the Base team to proceed towards the mainnet launch.

Go to publisher site

You May Ask

What is Base and what is its main goal?How was the code for Base audited?What techniques were used by Coinbase's security team to enhance the security of Base?When will the Base mainnet go live and will it have a native token?How many security researchers did Coinbase engage and what were the results of the audit?

Suggested Reads