Coinbase Introduces Base Neutrality Principles
Coinbase, one of the world’s leading cryptocurrency exchanges, has announced a promising initiative to improve decentralization of the Base blockchain. The company has released decentralization plans for its newly launched Base Blockchain, promising not to control the crypto assets that users bring into the ecosystem.
Key Points:
- Coinbase has unveiled the “Base Neutrality Principles” to achieve decentralization and impartiality for its Base blockchain.
- The principles align with Optimism’s “Law of Chains” and aim to create a “Superchain.”
- The core team behind Base plans to incorporate fault-proof mechanisms and various client software to ensure resistance to censorship.
- Coinbase commits to five key standards, including an open and neutral blockspace and not using private transaction data for marketing.
- Base and OP Mainnet will undergo synchronized upgrades, and transaction fees will be directed to the Optimism Collective.
Regulatory Hurdles Not Stopping Coinbase
Despite facing a lawsuit from the SEC for alleged unlicensed operations, Coinbase’s Base blockchain has gained significant traction. Within two weeks of its launch, it has attracted decentralized apps and surpassed $261 million in total value bridged. Over 100 dapps integrated with Base at launch, despite the ongoing legal battle.
Hot Take:
Coinbase’s commitment to decentralization and neutrality with its Base blockchain is a significant step towards achieving a truly open and fair crypto ecosystem. By incorporating fault-proof mechanisms and collaborating with Optimism’s OP Stack, Coinbase is working towards creating a more resistant and censorship-resistant network. The rapid growth of Base, despite regulatory challenges, showcases the demand and potential for decentralized applications in the crypto space.
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