Coinbase Layer-2 Network Base Is Ready For Mainnet Launch

Key Points:

• Base is close to being deployed on the mainnet, prioritizing security.
• The network has met crucial deployment criteria and leveraged collaboration with OP Labs.
• Initiatives like smart contract audits and monitoring tools enhance security and attract users.

Base, Coinbase’s new layer 2 application-focused protocol, is only one step away from being ready for mainnet deployment.

The Base team revealed their comprehensive security procedures in a block post in anticipation of their imminent mainnet launch. The platform’s goal is to get the next million developers and billion users onto the blockchain, and security is a critical component of that mission.

On February 23, the exchange officially unveiled Base, which aspires to be a low-cost, secure, and developer-friendly network for creating decentralized apps.

The network is created in conjunction with Optimism on the OP Stack. Because of this basis, it benefits from the considerable security work done by the OP Labs team and the larger Optimism community. Coinbase’s Protocol Security team performed an internal examination to improve the security of the OP Stack.

The Protocol Security team has worked closely with OP Labs over the last six months to strengthen the security of the layer 2 and Optimism. This involved reviewing all Optimism pre-deployments and contracts on both L1 and L2 to discover technological stack vulnerabilities and dangers.

On June 29, the team announced that the Optimism-powered, Ethereum-secured network had passed its second-to-last criterion for deployment.

A “Regolith” hard fork in testnet, a successful infrastructure assessment with OP Labs (the team behind Optimism), and Optimism’s “Bedrock” update was the other three requirements that were met.

Base engaged the larger community in advance of the mainnet launch by hosting a public smart contract audit contest on Code4rena. This competition challenged security researchers to identify and disclose defects in any area of the OP Stack. This challenge drew over 100 security researchers, and no notable vulnerabilities were uncovered.

Optimism’s node software, Ethereum Virtual Machine (EVM) equivalency flaws, bridge vulnerabilities, and several smart contract concerns were among the audits studied by security experts.

Base is also developing a smart contract security screening tool to assist developers in reducing the likelihood of inserting a security vulnerability into their contracts. This tool allows developers to rapidly and efficiently scan their contracts and get findings from numerous open-source vulnerability detection tools, including Coinbase’s proprietary secure trait analyzer.

In addition to safeguarding the core OP Stack codebase, the network is working on an open-source monitoring tool, Pessimism, to give timely reporting of protocol and network irregularities. This tool will be used in conjunction with current OP Labs monitoring tools, Coinbase’s in-house blockchain monitoring capabilities, and third-party solutions.

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.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News