Coinbase Layer-2 Network Base Open-Sources Code Repositories and Smart Contracts
The layer-2 network Base, developed by Coinbase, has made its code repositories and smart contracts open-source. This move aims to enhance transparency, accountability, and community collaboration within the project. In a blog post on October 19, Base announced that developers now have full access to the network’s codebase.
“By sharing our work openly, we enable the community to track our progress and ensure that we’re living up to our commitments.”
Base believes that open source is crucial for building an on-chain ecosystem. It allows builders to gain knowledge, improve existing work, and inspire others in the space. By making its smart contracts and scripts publicly available on GitHub, Base offers developers greater transparency into the project’s development.
Increased Tools for Developers
With the open-sourcing of its code, developers can now assess and experiment with the code responsible for deposits and withdrawals on Base. This provides them with additional tools for creating similar functions. Open-source development aligns with the crypto ethos by enabling anyone in the community to audit the code for vulnerabilities and potential exploits.
However, it’s important to note that nefarious actors could exploit vulnerabilities before they are flagged by noble developers. To address this concern, Coinbase encourages “security-minded” developers to review Base’s code and offers a bounty of up to $1 million for bug discoveries.
Open-Sourcing Web Properties
In addition to open-sourcing its repositories and smart contracts, Base has also made its web properties, including base.org, docs.base.org, and bridge.base.org, open-source.
Active Role in Crypto Ecosystem
Base has emerged as one of the most active layer-2 networks in the crypto ecosystem. The rise of Friend.tech, a decentralized social finance application built on top of the network, has contributed to this wave of activity.
Considering Native Token
In an interview, Coinbase legal counsel Paul Grewal hinted that issuing a native token for the layer-2 network is not entirely ruled out. This possibility adds to the ongoing developments surrounding Base.
Hot Take: Open-Source Advancements Foster Collaboration and Security
By open-sourcing its code repositories and smart contracts, Base aims to foster collaboration and transparency within the community. This move allows developers to access valuable knowledge, improve existing work, and inspire others. However, it also raises concerns about potential vulnerabilities being exploited by malicious actors. Coinbase addresses this issue by encouraging security-minded developers to participate in code review and bug discovery programs. Overall, open-source development plays a crucial role in building a stronger and more secure crypto ecosystem.
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