Popular crypto exchange, Coinbase will deploy its Ethereum scaling solution, Base on mainnet on August 9, 2023. In its Thursday Twitter post, the exchange also announced the launch of the network’s bridge. This bridge will provide enablement for assets in the Base to transit to the Ethereum mainnet without any hitch.
Recall that Base was launched on testnet around February. Then, Coinbase described the solution as an Ethereum Layer 2 platform, designed to offer a reliable, low-cost, and user-friendly way for people to develop decentralized applications on-chain. This testnet provided developers with first-hand exploration of the solution.
By developing this platform, the crypto exchange aims to onboard more than one billion users into the crypto world. According to the announcement, Base will house its on-chain offerings and also provide an open ecosystem for everyone to develop their apps easily.
Preparations for the full launch of Base on mainnet
Coinbase said it developed Base on the OP Stack after partnering with Optimism. Around June, it said the new solution has been well scrutinized by security experts. According to the exchange, it employed at least 100 security professionals to check the project, and no major vulnerabilities were discovered.
Also, the exchange worked with the OP Labs team to ensure the efficiency of the solution ahead of its mainnet launch. Some of the efforts by both teams include auditing every Optimism contract on L1 and L2 to track any risks in the tech stack, building runbooks for possible risk scenarios, evaluating the management setup for Base, and many more. Upon the conclusion of the checks, Coinbase said no critical bugs were discovered, thereby affirming the readiness of Base to launch on mainnet.
Meanwhile, the exchange took a step further in its development of Base around July by unveiling its mainnet for developers. According to its announcement, it decided to open the network so as to allow timely onboarding of its users. By opening the network, Coinbase wants developers to deploy their projects ahead of the full launch. It also revealed that the Base mainnet possesses two operational block explorers and an RPC node. This node helps to effectively read data and transmit transactions on the network. According to Coinbase, it has no plan to launch a native token for the new project.
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