Project Incubated by Coinbase Gears Up for Launch of Ethereum Layer-2 Mainnet

A project supported by the US-based crypto exchange Coinbase says that its Ethereum (ETH) layer-2 protocol is on the cusp of launching its mainnet.

The project, known as Base, says it has recently completed internal and external security audits, which means it has now fulfilled four out of the five criteria it set out for its mainnet launch.

Base is powered by the blockchain-scaling solution Optimism (OP), and its testnet launched in February.

Coinbase engineers are designing the project to be compatible with Ethereum, Ethereum layer-2s like Optimism and other alternative layer-1s like Solana (SOL).

Base says the security audits didn’t reveal any critical severity bugs, which gives the team behind the project “confidence to proceed towards mainnet launch.”

“We can’t wait to bring Base to mainnet soon, continuing to build with uncompromising standards of security to ensure that developers can come on-chain with confidence.”

Coinbase previously noted that it has no plans to issue a new network token. The top US crypto exchange says Base will be decentralized and permissionless.

“Our goal with Base is to make on-chain the next online and onboard one billion+ users into the cryptoeconomy. In pursuit of this goal, Base will serve as both a home for Coinbase’s on-chain products and an open ecosystem where anyone can build.”

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