Coinbase Releases “Base Neutrality Principles” for its Blockchain
Coinbase, the U.S. crypto exchange, has introduced a set of guidelines called the “Base Neutrality Principles” to maintain a decentralized and neutral blockchain. The principles align with Optimism’s “Law of Chains,” aiming to unify various chains built in line with the project’s vision for a “Superchain.” Coinbase’s plan comes shortly after the launch of its new “Base” blockchain.
Key Points:
– Coinbase’s “Base Neutrality Principles” aim to ensure a decentralized and neutral blockchain.
– The principles include standards for all OP Stack blockchains, allowing equal access to the neutral and open blockspace of Base.
– Coinbase commits to not controlling users’ crypto or prioritizing transaction orders.
– Private transaction data will not be used for marketing purposes.
– There will be no limitations on exiting or withdrawals for Base users.
Optimism, the team behind Base, will work towards the Superchain vision by upgrading both Base and OP Mainnet simultaneously. Transaction fees will be split, with a portion going to the Optimism Collective through a smart contract. Base users have the opportunity to earn up to 118 million OP tokens over six years, worth around $183 million.
Hot Take:
Coinbase’s release of the “Base Neutrality Principles” demonstrates its commitment to decentralization and neutrality in its new blockchain. By setting these standards, Coinbase aims to maintain control without undermining the benefits of decentralization. This move aligns with the current trend of ensuring transparency and equal access in the crypto industry.
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