HomeNewsCoinbase Completes Security Audit for Its Ethereum Layer-2 Network Base, Nearing Mainnet...

Coinbase Completes Security Audit for Its Ethereum Layer-2 Network Base, Nearing Mainnet Launch

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  • Coinbase’s Base, a Layer-2 network designed for decentralized application development, has achieved four out of five of its launch criteria.
  • The Base network has undergone intense internal and external security audits, with no major bugs discovered.

Coinbase’s Ethereum layer-2 network, Base, is poised for its mainnet launch after achieving 80% of the criteria set for this milestone. Base is an Optimism-driven protocol, built with a security layer from Ethereum. It has been subjected to half a year of stringent internal and external security audits, thereby fulfilling the penultimate requirement for the mainnet launch.

The Base development team has expressed a renewed confidence in the readiness of the network for the mainnet launch, given the absence of critical bugs during the exhaustive security reviews. The three other criteria already met include the successful completion of a Regolith hard fork on the testnet, a thorough infrastructure review in collaboration with OP labs, the team behind Optimism, and the implementation of Optimism’s Bedrock upgrade.

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Officially unveiled by Coinbase on February 23, Base has been envisioned as a cost-effective, secure, and developer-friendly environment for the construction of decentralized applications. An integral part of the launch preparation involved “battle-testing” Optimism’s technology stack. The protocol security team of Coinbase conducted an internal audit to detect any potential vulnerabilities that could emerge on layer 1, layer 2, and on the bridges.

Broadening the scope of the audit process, Base invited the wider community to participate in a public smart contract audit via Code4rena, aiming to uncover any bugs within Optimism’s tech stack. Over a hundred security researchers took part in this contest, thankfully yielding no significant vulnerabilities.

Among the aspects probed by these researchers were Optimism’s node software, Ethereum Virtual Machine (EVM) equivalence vulnerabilities, bridge vulnerabilities, and miscellaneous smart contract issues. Furthermore, an open-source monitoring tool, Pessimism, was developed to alert developers of any inconsistencies that could arise in the protocol, such as account balance discrepancies, contract events, or state differences between L1 and L2.

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The final prerequisite for the mainnet launch is proving the “testnet stability”. The Base team continues to evaluate submissions from the community audit while reviewing the feedback from previous audit programs, namely Spearbit and Sherlock.

Secured on Ethereum and empowered by the layer-2 network Optimism, Base’s ultimate goal is to establish a prolific environment for building decentralized applications. The creation of Base has been widely recognized as a major endorsement for Ethereum.

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Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
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