Countdown to Mainnet Launch: Coinbase’s Base Network Updates

Setting the Stage for Mainnet

Coinbase’s Base is on its way to launching its mainnet—an ambitious endeavor aimed at transforming the Ethereum landscape. But before the celebration can begin, the Base team has mapped out five essential criteria for a successful launch.

Safety First: The Road Ahead

With safety and security being paramount, the team is taking no shortcuts. As of a recent update, Base has ticked off two of the five launch criteria, which leaves three still in the queue. Let’s break these down:

Successful execution of the Regolith hard fork.
Infrastructure review by the OP Labs team.
Upgrade to the Bedrock version.
Complete internal and external audits, no critical issues allowed!
Demonstrated stability of the testnet.

The Testnet Journey

Launched in February, Base’s testnet operates as a layer 2 solution built atop Ethereum utilizing Optimistic Rollup technology. Currently, it’s only linked to Ethereum’s Goerli testnet, meaning that it’s limiting for most asset holders. This tweak is all about keeping costs down and ramping up scalability as enthusiasts eagerly await what’s next.

Upcoming Upgrades and Stability Checks

Up next is upgrading to Bedrock, a crucial step promised to lower fees and improve deposit times. The Optimism team is expected to roll this out on June 6, but Base is playing its cards close to the chest regarding its timeline. The anticipation for this upgrade is palpable, but remember, no pressure!

Keeping the Skeptics at Bay

Not all are thrilled about Base’s trajectory. Decentralization advocate Chris Blec has voiced concerns regarding the centralized “sequencer” the network plans to use. “Wait, are we still talking about decentralization?” he quips. Base, however, promises that their sequencer will evolve into a more decentralized model over time. Got your fingers crossed?

Building the Future—Is Everyone Invited?

From the onset, Base has sparked excitement regarding app development. Their call for a “flatcoin” and an on-chain reputation system was answered by the likes of Masa Finance, who injected its soulbound token protocol into the mix. It seems the creativity flows as freely as the speculation among builders.

As we eagerly look toward the future, remember: although no specific dates are featured in their roadmap, Base has assured us they’ll keep up the transparency. So, let’s stay tuned for those upcoming milestones!