Base, the popular layer 2 of the cryptocurrency exchange coinbase (COIN), is now a curled up “stage 1”, said the company, establishing its path to complete decentralization.
The transition to a curled up “Stage 1” occurs when other layers 2 have also reached that milestone, which causes these networks to depend less on centralized entities.
The measure means that base will now have a security council, a network of ten “independent entities, which we choose from all over the world,” said Tom Vieira, head of products of the base, in an interview with Coindesk. “These are people of the base ecosystem and the wider Ethereum ecosystem,” which will help approve certain network updates if necessary, Vieira added.
In addition, fault tests do not have permission now at the base, which means that anyone can verify or verify the status of network transactions without depending on a central entity.
Achieving the so -called Roll state in stage 1 comes from a blog post of the Ethereum co -founder, Vitalik Butein, where he categorized the platforms according to their degree of decentralization, with stage 1 that depends on certain railings or “limited training wheels”, and sacrificing certain elements of diet for safety and speed.
Buterin originally shared this framework in 2022 when the Rollups began to be more popular. A few years later, he expressed his concerns about his safety, so he wrote in X that he would only speak publicly about a layer 2 if he had reached (at least) stage 1.
The base was launched by Centralized Exchange Coinbase in August 2022, and since then it has become the largest curled up, according to L2Beat, with $ 11.72 billion blocked in the protocol. Now, the largest layer 2 will depend less on coinbase.
Read more: the Layer 2 system base of Coinbase obtains a market linked to gas revenues
