Base, a brand new layer 2 application-focused protocol by Coinbase, has only one criterion left to satisfy earlier than being prepared for mainnet launch.
On June 29, the staff mentioned the Optimism-powered, Ethereum-secured network has been topic to 6 months of rigorous safety audits — each internally and externally — its second-last standards required for launch.
“With the completion of these audits, we’ve now fulfilled ⅘ of our criteria for mainnet launch,” Base mentioned, including that the staff feels assured after not discovering any essential code bugs:
“Completing these in-depth security workstreams without discovering critical severity bugs gave the Base team confidence to proceed towards mainnet launch.”
The different three standards handed included a “Regolith” laborious fork in testnet, a profitable infrastructure overview with OP labs — the staff behind Optimism — and Optimism’s “Bedrock” improve.
P.S. In case you’re maintaining observe, with the completion of those audits, we’ve now fulfilled ⅘ of our standards for mainnet launch…https://t.co/eRarQ4R7zG https://t.co/9o3vNidNtE
— Base ️ (@ConstructOnBase) June 29, 2023
Coinbase formally launched Base on Feb. 23. It goals to be a low-cost, safe, developer-friendly network for constructing decentralized purposes.
To “battle-test” Optimism’s tech stack, Coinbase’s protocol safety staff carried out its personal inner audit to establish any vulnerabilities that will emerge on layer 1, layer 2 and on the bridges.
In addition to Coinbase’s inner audit, Base invited the broader group to partake in a public good contract audit take a look at by way of Code4rena to report bugs discovered in the Optimism’s tech stack:
“We engaged over 100 security researchers as part of this contest, and are happy to report there were no significant vulnerabilities discovered.”
Among the audits investigated by the safety researchers included Optimism’s node software program, Ethereum Virtual Machine (EVM) equivalence vulnerabilities, bridge vulnerabilities and miscellaneous good contract points.
We’ve detailed…How we’re secured by the OP stackOur expertise with each inner and exterior auditsThe improvement of our open-source monitoring toolWhat it means to launch mainnet with this safety first mindset
— Base ️ (@ConstructOnBase) June 29, 2023
The group audit ran from May 27 to June 10, with a most of $100,000 in rewards handed out to profitable bounty hunters.
Demonstrating “testnet stability” is the ultimate standards that must be handed previous to mainnet launch, in keeping with a earlier put up from Base.
While Base didn’t state how the ultimate standards could be fulfilled precisely, the staff mentioned that they’re nonetheless reviewing submissions from the 100 researchers that took half in the general public good contract audit in addition to evaluations from previous audit applications — specifically “spearbit” and “sherlock.”
Base added that they’ve constructed Pessimism, an open-source monitoring device that goals to inform builders of any anomalies that will come up in the protocol, corresponding to account stability irregularities, contract occasions, or disparities between L1 and L2 states.
Related: Coinbase CEO says Bitcoin Lightning is ‘one thing we’ll combine’
In late March, Coinbase mentioned they wish to see an inflation-pegged “flatcoin,” an on-chain status system and an on-chain restrict order e-book change constructed on Base.
Many thought-about the event of Base to be a “massive vote of confidence for Ethereum” when the information was first introduced in late February.
Secured on Ethereum and powered by layer-2 network Optimism, Base goals to finally change into a network for constructing decentralized purposes.
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