Crypto & Blockchain News

Ethereum L2 Blockchain, Base, Prepares for Coinbase Mainnet Launch


In a recent blog post published on June 29, 2023, the team behind Base, the Ethereum Layer 2 (L2) blockchain incubated by Coinbase, unveiled their comprehensive security measures in anticipation of the highly anticipated mainnet launch. With a bold vision to unite millions of developers and billions of users to their platform, Base understands that strong security is an indispensable cornerstone of their mission.

The foundation of Base lies on the OP Stack, a collaborative effort between Base and Optimism. By leveraging the extensive security work done by the OP Labs team and the broader Optimism community, Base has built a solid framework from the ground up. The Coinbase Protocol Security Team conducted careful internal audits to strengthen the security of the OP Stack even further.

Over the past six months, the Protocol Security team has been working closely with OP Labs, conducting in-depth evaluations of the Basis and Optimism ecosystem. Their efforts involve conducting thorough audits of all Optimism pre-deployments and contracts on L1 and L2 to identify potential vulnerabilities or risks lurking in the technology stack.

Prior to the launch of the highly anticipated mainnet, Base is actively engaging the wider community through an amazing initiative known as the public smart contract audit contest hosted by Code4rena. This competition beckons security researchers from around the world to scrutinize every nook and cranny of the OP Stack, looking for any lurking bugs or vulnerabilities. The response was overwhelming, with over 100 security researchers participating in the contest. What a result? No significant vulnerabilities were found, which testifies to the robustness of the Base’s security infrastructure.

In addition to securing the core OP Stack codebase, Base is developing an open source monitoring tool, Pessimism. This state-of-the-art tool will promptly notify stakeholders of any irregularities or anomalies detected in the protocol and network. It works in harmony with OP Labs’ existing monitoring tools, Coinbase’s internal blockchain monitoring capabilities, and third-party tools, ensuring a comprehensive safety net for the entire ecosystem.

The base also compiled a smart contract security scanning tool as part of its unwavering commitment to developers. This invaluable resource will empower developers to reduce the likelihood of introducing security vulnerabilities in their contracts. By enabling fast and easy contract scanning, the tool combines the results of several open-source vulnerability detection tools, including Coinbase’s proprietary security analyzer, thereby significantly strengthening the developer’s overall security posture on the platform.

With an unwavering focus on security, Base is poised to revolutionize the Ethereum ecosystem, providing a secure and scalable platform for millions of developers and the next billion users. As their mainnet launch approaches, the careful efforts of the Base team and invaluable collaboration with Coinbase’s Optimism and Protocol Security teams position them as pioneers in secure Layer 2 solutions, poised to shape the future of blockchain technology.


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