Coinbase’s Base is 80% Ready for Mainnet Launch After Security Audits

The mainnet launch of Base, Coinbase’s layer 2 application-focused protocol, is almost complete. The only remaining criterion is to be fulfilled.

The Base team announced on June 29 that their Optimism-powered, Ethereum-secured network has completed six months of rigorous security audits, both internally and externally. This is the second-to-last criterion required for mainnet launch.

The Base has completed 80% of the criteria for mainnet launch and is confident in moving forward after completing security audits that found no critical bugs.

The Base is one step closer to mainnet launch after completing three additional criteria, including a hard fork in testnet, a review with OP labs, and an upgrade to Optimism’s “Bedrock” software.

Coinbase’s new layer-2 application-focused protocol, Base, was officially launched on February 23. The network aims to be a low-cost, secure, and developer-friendly platform for building decentralized applications.

Coinbase’s protocol security team conducted an internal audit of Optimism’s tech stack to “battle-test” the network and identify any potential vulnerabilities. The audit looked at all three layers of the stack, including layer 1, layer 2, and the bridges.

Coinbase took the security of its Base very seriously. They conducted an internal audit of Optimism’s tech stack and encouraged the community to participate in a public smart contract audit test. The audit found no material flaws, even after over 100 security researchers participated in the challenge.

The security researchers looked at all aspects of Optimism’s tech stack, including the node software, the EVM equivalence vulnerabilities, the bridge vulnerabilities, and miscellaneous smart contract issues.

Coinbase has identified three areas where they believe Base could be further developed: inflation-pegged “flatcoins,” on-chain reputation systems, and on-chain limit order book exchanges.

Base is a new layer-2 network that aims to make it easier and cheaper to build decentralized applications on Ethereum. The network is powered by Optimism, a popular layer-2 scaling solution.

Base is taking a different approach to layer-2 scaling than other networks. Instead of introducing a native token, Base will focus on providing a secure and scalable platform for building decentralized applications.

I am Vishal. I post articles about the cryptocurrency markets. I'm pursuing a BBA degree. My home is in Navi Mumbai, Maharashtra.I'm constantly interested in new advancements in this industry and I learn something new about it every day. I would love to share such information with you all.

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