• Coinbase is developing a layer 2 network called Base, which is forked off of Optimism.
• The team behind the network has been focusing on security ahead of its mainnet launch.
• To ensure the security of the blockchain, Base has implemented Coinbase’s security best practices and worked with external auditors to perform audits and simulated exercises.
Coinbase’s Layer 2 Network
Coinbase is developing a layer 2 network called Base which is forked off of Optimism. This fork provides additional security benefits for the platform before its mainnet launch.
Security First Approach
The team behind Base has taken a „security first“ approach to ensure that the blockchain remains secure before launch. They have incorporated Coinbase’s security best practices as well as an open-source codebase to further increase their resilience against potential attacks. To demonstrate this commitment, they have conducted various simulation exercises and partnered with OP Labs to conduct audits. Furthermore, over 100 protocol security researchers were engaged through Code4rena who found no vulnerabilities or breaches in the system so far.
Base are also developing an open-source monitoring tool called Pessimism which will be used to detect any irregularities such as account balance discrepancies between nodes, contract events or other disparities between different nodes on the network. This tool will help maintain a secure environment on base and alert users should any potential issues arise before they cause harm or disruption to users of the platform.
Simulated Exercises and Audits
To ensure that Base is protected from potential attacks and threats, simulated exercises have been held by the team in order to test response capabilities should an incident occur on the platform at scale. In addition to these measures, multiple audits have been conducted in partnership with OP Labs prior to launch day which have not revealed any major issues so far with regard to security on Base’s blockchain technology.
Coinbase’s layer 2 network ‚Base‘ is preparing for launch soon and are taking all necessary steps towards ensuring that it remains secure before its official release date by incorporating Coinbase’s own security best practices along with external audits and simulation exercises. In addition, an open-source monitoring tool called Pessimism will be available upon launch that can detect irregularities across different nodes within the system alerting users if anything out of ordinary occurs within their individual node or across others on Base’s blockchain technology