COIN’s Base Network Achieves ‘Stage 1’ Status, Reducing Centralization Risk

COIN’s Base Network Achieves ‘Stage 1’ Status, Reducing Centralization Risk

Base, the popular layer-2 network from cryptocurrency exchange Coinbase (COIN), is now a “stage 1” rollup, said the company, setting up its path towards full decentralization.The transition to a “stage 1” rollup comes as other layer-2s have also reached that milestone, making these networks less reliant on centralized entities.The move means that Base will now have a security council, a network of ten “independent entities, which we chose from a…

Base becomes 10th L2 network to reach at least Stage 1 decentralization – MAXBIT

Base has reached “Stage 1 Decentralization” by introducing fault proofs and a decentralized Security Council to its network structure, the layer 2 blockchain announced in a blog post on April 29. Fault proofs allow any participant to propose or challenge claims about Base’s state, with open-source challenger software and financial incentives supporting permissionless dispute resolution. ...

Base Reaches Stage 1 Decentralization with Fault Proofs and Security Council

Base, an Ethereum Layer 2 scaling solution, has achieved Stage 1 decentralization. This milestone includes the implementation of fault proofs and the establishment of a security council, enhancing the network's security and resilience.This step ensures that there is no single point of failure in the network, allowing for greater participation in securing and verifying the platform. Base's achievement is part of efforts to build a foundation for …