Coinbase’s Layer-2 Coming To Mainnet Soon, No Tokens Planned

Key Points:

• Coinbase’s Base detailed a timeline for the mainnet’s launch.
• The plan does not include any precise dates, but it does include a list of five criteria that must be met before the network may go live.
• Base will undergo internal and external audits after the Bedrock update to ensure there are no serious concerns discovered.

Coinbase has established particular goals that must be accomplished before the firm considers deploying Base, its layer-2 solution. One critical need is that the testnet has an established track record of stability.

For the time being, the firm is incubating its Base internally, but the platform will ultimately become totally decentralized. It is based on Optimism’s OP development stack, which means that reaching the mainnet stage is heavily dependent on the efforts and contributions of OP Labs, an Optimism protocol contributor.

According to the blog post, the network’s primary concern as it prepares to launch its mainnet is safety and security. Mainnet migration milestones include testnet stability, the successful update of Optimism’s Bedrock, and the completion of evaluations and audits.

Completing the Regolith hardfork on the testnet network and testing the infrastructure with Optimism’s team before the Bedrock upgrade are examples of accomplished milestones.

The first phase of the Layer-2 on the mainnet will be “Mainnet Genesis,” following which developers will have a window to deploy applications on Layer 2 on the mainnet. The Base core team will support decentralized apps that will be acknowledged as early builders on the network at this stage.

While the blog did not provide a timeframe or precise dates for when the network will be available on the main network, it did describe five particular criteria that would be unlocked during the event. The successful testnet of the Regolith hard fork and an infrastructure evaluation with the OP Labs team have already satisfied two of these requirements.

The objective continues to expand global economic freedom and opportunity by bringing millions of developers and the next billions of users into the crypto economy. Contrary to popular belief in the crypto world, Base indicated in the statement that it has no intentions to develop its own Layer 2 token.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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