Coinbase Layer-2 Network Base Nears Mainnet Launch

• On February 23, Coinbase made the official launch of Base.
• Base has not announced a specific date for the mainnet launch.

In anticipation of Base’s mainnet launch, Coinbase affirmed on Wednesday that its Ethereum Layer-2 network had been subjected to extensive security evaluations conducted by researchers. Reports indicate that Coinbase commissioned a six-month internal audit from its protocol security team to thoroughly test the security of Base, built on the OP stack in collaboration with Optimism, announced in February.

P.S. In case you’re keeping track, with the completion of these audits, we’ve now fulfilled ⅘ of our criteria for mainnet launch…https://t.co/eRarQ4R7zG https://t.co/9o3vNidNtE

— Base (@BuildOnBase) June 29, 2023

Coinbase stated:

The team audited all of Optimism’s pre-deployments and smart contracts on both layer 1 and layer 2 to identify potential vulnerabilities of security risks.

The purpose of Layer-2 solutions is to enhance the cost-effectiveness and efficiency of transactions on networks such as Ethereum. These solutions achieve this by processing transactions in a separate space and subsequently relaying the outcomes back to their respective network.

While Base has not announced a specific date for the mainnet launch, it has clarified that unlike another layer 2 blockchains such as Polygon, Optimism, and Arbitrum, it will not introduce a native token into its ecosystem.

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