Coinbase-backed Base Gears Up For Mainnet Launch With L2 Network Roadmap Revealed

Coinbase-backed Base Gears Up For Mainnet Launch With L2 Network Roadmap Revealed

Published Thursday 25th May 2023

Coinbase-backed Base, a layer 2 network, is preparing for its mainnet launch and has recently revealed its roadmap for development and infrastructure goals. The launch of the network will depend on the successful performance of the testnet, security audits, and Optimism's Bedrock upgrade. Base has already stated that it will not issue a network token, which is a positive indication of its commitment to decentralization and community-driven efforts.

The main aim of Base is to provide a secure, scalable, and low-cost infrastructure for decentralized finance (DeFi) applications. The network is built on top of Ethereum and utilizes Optimistic Rollups to achieve high throughput and low latency. Optimistic Rollups is a type of layer 2 scaling solution that processes off-chain transactions and only submits the final result to the main chain. This allows for faster and cheaper transactions without compromising security and decentralization.

To achieve its goals, Base has outlined several development and infrastructure milestones that it aims to complete before the mainnet launch. These milestones include optimizing the user experience, improving the security and reliability of the network, and enhancing network interoperability. Base is also committed to supporting the Ethereum ecosystem and will work closely with other projects to promote cross-chain interoperability.

Base's decision not to issue a network token is significant because it aligns with the principles of decentralization and community-driven efforts. Network tokens often create conflicts of interest and can be used to influence the network's development and governance. Base's commitment to avoiding these conflicts of interest is admirable and sets a positive example for other projects in the DeFi space.

In conclusion, Base's upcoming mainnet launch is an exciting development for the DeFi space. The network's focus on security, scalability, and low-cost infrastructure will enable more users to access and benefit from DeFi applications. Base's commitment to decentralization and community-driven efforts is also a positive indication of the network's long-term goals. As the DeFi space continues to grow and evolve, Base and other innovative projects will play a crucial role in shaping its future.

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