Coinbase-Incubated Layer 2 Network Base Open-Sources Code Repositories
The Layer 2 network Base, which was incubated by Coinbase, has made its code repositories open-source in order to enhance transparency and allow for public contributions. This means that developers can now access the underlying code that enables various Base processes, including contracts and other deployments. By sharing their work openly, Base aims to track progress, foster collaboration, and receive valuable community feedback. The Base Layer 2 network on Ethereum is built on OP Stack in collaboration with Optimism. The team is committed to decentralization and has open-sourced its smart contract repositories and web properties to provide increased transparency.
Smart Contract Transparency and Open-Source Web Repos
Base has open-sourced its smart contract repositories on GitHub, providing developers with increased transparency around its development. All contracts and scripts are publicly available, allowing for insights into on-chain actions such as contract deployments and upgrades. Open-sourcing is an important concept in the crypto industry as it enables transparency and community-based auditing of vulnerabilities. Base is encouraging developers to check out its codebase by offering a bounty payout of up to $1,000,000 for bug discovery through the Coinbase HackerOne bounty program. Additionally, Base has open-sourced its web properties to boost transparency and encourage developer contributions and feedback.
Base’s Commitment to Decentralization
Earlier this year, Base outlined its commitment to decentralization with the Superchain, which aims to create a network of many Layer 2 blockchains in collaboration with Optimism. Base plans to fully decentralize the network in the future by implementing fault proofs and using diverse client software. However, there is no specific timeline for this transition. Base also plans to assist in forming a “security council” for the Superchain to ensure security and decentralization. The team remains committed to contributing to the open-source community and improving open-source tools for the ecosystem.
Base Activity and Token Plans
Base’s transaction count on its Layer 2 network has recently fallen below that of rival Arbitrum. However, Base remains optimistic about Layer 2 activity and is committed to supporting builders in bringing decentralized tech to users. While a new token for Base has not been ruled out entirely, the team currently has no plans to issue a network token.
Hot Take: Base Embraces Transparency and Collaboration with Open-Source Approach
Base’s decision to open-source its code repositories and web properties demonstrates its commitment to transparency and collaboration within the crypto community. By sharing their work openly, Base invites developers to contribute, provide feedback, and participate in the project’s progress. This move also aligns with the industry’s ethos of open-sourcing, which promotes transparency, community-based auditing, and faster vulnerability fixes. While decentralization remains a future goal for Base, their focus on technical improvements and collaboration with Optimism highlights their dedication to building a technology that is open for everyone. With continued contributions to the open-source community, Base aims to strengthen the ecosystem and support the adoption of decentralized technologies.
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