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Coinbase Layer-2 Network ‘Base’ Prepares for Mainnet Launch

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Coinbase Layer-2 Network ‘Base’ Prepares for Mainnet Launch
Coinbase Layer-2 Network ‘Base’ Prepares for Mainnet Launch

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In preparation for its mainnet launch, Coinbase’s Layer-2 protocol, Base, has successfully undergone a series of security audits.

The primary goal of this launch is to attract an influx of new crypto users, potentially reaching up to 1 million in the coming years.

Coinbases Completes Security Audits for Base Launch

Coinbase’s Base, an application-focused layer 2 protocol developed in partnership with Optimism, is nearing its mainnet launch, with just one requirement left to be fulfilled.

Introduced in February, Base aims to establish a secure, cost-effective, and developer-friendly network for decentralized application development.

Coinbase engaged its protocol security team to conduct a comprehensive internal audit spanning six months to ensure the utmost security of both the blockchain and the OP stack.

On June 29, the team announced that the Ethereum-backed network had completed thorough security audits conducted both internally and externally.

This accomplishment marks the fulfillment of the penultimate prerequisite before the protocol can be launched.

During the audit process, Coinbase’s team examined all pre-deployments and smart contracts of Optimism on both layer 1 and layer 2 to identify potential security vulnerabilities or risks.

Base Opens Audit to Community

In addition to Coinbase’s internal audit, Base facilitated a public smart contract audit test through Code4rena, inviting the wider community to participate.

More than 100 individuals conducted a thorough review of the network’s code, and according to Coinbase’s blog post, no significant flaws were found across various aspects of the network’s architecture.

The community audit occurred from May 27 to June 10, and successful bug finders were rewarded up to $100,000.

With the completion of these audits, Base has now met four of the five criteria required for the mainnet launch.

The other three criteria passed include the “Regolith” hard fork in the testnet, a successful infrastructure review conducted with OP labs, and the implementation of Optimism’s “Bedrock” upgrade.

According to a previous Base post, the final requirement before the mainnet launch is to demonstrate “testnet stability.”

In March, the company announced “Wallet as a Service,” which is expected to complement Base by offering firms the ability to integrate digital wallets into their applications.

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