Coinbase-Incubated Base Opensourced Its Code Repositories
The Layer 2 network Base, incubated by Coinbase, has made its code repositories open source to enhance transparency and welcome contributions from the public.
Developers can now access the underlying code, including contracts and deployments that drive various Base processes, according to a recent announcement. This decision to open-source the code aims to enable the community to track progress, hold the project accountable, and foster collaboration by providing a channel for valuable feedback.
Base is a Layer 2 network built on Ethereum using OP Stack in collaboration with Optimism. Anika Raghuvanshi, Senior Software Engineer at Base, emphasized the project’s commitment to decentralization and openness, stating, “Our goal is to be decentralized, permissionless, and open to anyone.”
Open-Sourcing Smart Contracts and Web Repos
By open-sourcing its smart contract repositories, Base is increasing transparency around its development. All contracts and scripts are now publicly available on GitHub, offering insights into various on-chain actions, from contract deployments to upgrades.
Open-sourcing aligns with the ethos of the crypto industry, enabling transparency over operations and allowing for community-based auditing. However, it also makes it easier for vulnerabilities to be spotted and fixed by the community, as well as potentially exploited by malicious actors.
Base is encouraging developers to explore its codebase and is 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, including base.org, docs.base.org, and bridge.base.org, to enhance transparency and engage developers to contribute and provide feedback.
Base’s Commitment to Decentralization
Earlier this year, Base outlined its commitment to decentralization by embracing the Superchain, Optimism’s vision for a network of Layer 2 blockchains.
Base intends to achieve full decentralization in the future by implementing fault proofs and using diverse client software to ensure network censorship resistance. However, there is no specific timeline for this transition. Base also plans to assist in forming a “security council” for the Superchain, designed to implement further checks and balances on the security and decentralization of Base, Optimism, and related chains.
Base maintains its commitment to the open-source community by contributing to projects such as the OP Stack and introducing improved open-source tools for the ecosystem.
Base’s Activity and Token Plans
Base’s seven-day moving average transaction count recently fell below that of its optimistic rollup rival, Arbitrum, marking the end of approximately a month-long period during which Base dominated the Layer 2 space. The average transaction count has declined by around 65% from nearly 1.5 million in September to under 500,000.
Despite this decline, Base remains enthusiastic about the growth of Layer 2 activity and is committed to supporting builders in bringing decentralized technology to a wider user base. It was noted that there are currently no plans to issue a network token for Base, according to Anika Raghuvanshi.
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