Coinbase Layer-2 Network Base Is 80% Complete

Although no date has been announced for the mainnet, the main team said that it is currently meeting four of the five initial stages.

Base, a new protocol focused on Layer 2 applications from Coinbase, has only one criterion to meet before it is ready for mainnet launch. On June 29, the group said that the Ethereum network supported by Optimism has undergone six months of rigorous security testing - both internal and external - as its penultimate criteria required for launch.

"With the completion of these tests, we have met ⅘ of our criteria for the mainnet launch," Base said, adding that the team was confident when they did not find any critical code errors:

“ Successfully completing these security steps without exposing any critical bugs gave team leaders the confidence to move forward with the mainnet launch. ”

The other three phases that have passed include the "Regolith" hard fork on the testnet, successful infrastructure testing at OP Labs - the team behind Optimism - and Optimism's "Bedrock" upgrade.

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 launched Base on February 23. It aims to be a low-cost, secure and developer-friendly network for building non-administrative applications.

To "fight test" Optimism's technology stack, Coinbase's protocol security team conducted an internal audit to identify any potential vulnerabilities at levels 1, 2, and bridges. In addition to Coinbase's internal investigation, Base invited the wider community to participate in a public research investigation by Code4rena to report bugs found in Optimism's technical equipment:

“ We involved more than 100 security researchers in this competition and are happy to report that no major vulnerabilities were discovered. ”

Among the vulnerabilities analyzed by security researchers are the Optimism cloud software, Ethereum Virtual Machine (EVM) vulnerabilities, layer vulnerabilities, and various smart contract issues.

We’ve detailed…
How we’re secured by the OP stack
Our experience with both internal and external audits
The development of our open-source monitoring tool
What it means to launch mainnet with this security first mindset
— Base ️ (@BuildOnBase) June 29, 2023

The national search ran from May 27 to June 10, with up to $100,000 in rewards awarded to successful hunters.

Proving "testnet stability" is the last hurdle to be met before the launch of the mainnet, according to a previous Base report.

Although the Base did not specify how exactly the end will be met, the group said that it is still evaluating the input from 100 researchers who participated in the social contract analysis in addition to the evaluation of the program. before review - i.e. "spearbit" and "sherlock".

Base added that they have built Pessimism, an open-source monitoring tool that aims to alert developers of any flaws that may arise in the protocol, such as account balance errors, contract events, or state inconsistencies. L1. and L2.

At the end of March, Coinbase said it wanted to see a "flatcoin" combined with a fixed price, chained name system, and limited-edition ledger exchange running on Base. Many saw the development of Base as a "big vote of confidence for Ethereum" when it was first announced in late February.

Secured on Ethereum and powered by Layer 2 network security, Base aims to become the ultimate network for building non-profit applications.