Coinbase's Layer-2 Network Base Open-Sources Code for Increased Transparency and Collaboration
Summary:
Base, Coinbase's layer-2 network, has open-sourced its code repositories and smart contracts to increase transparency, accountability, and to foster public contributions. Now, developers can access the entire project's codebase, while all of Base's scripts and smart contracts are publicly available on GitHub. This move allows anyone to review and improve the code and promises a bounty for identified vulnerabilities. In addition, Base's web properties have been open-sourced. Base is known for its significant activity in the crypto ecosystem, largely driven by Friend.tech, a decentralized social finance application.
The layer-2 network of Coinbase, Base, has proclaimed it has made its smart contracts and code repositories free for public use in order to amplify transparency, accountability, and invite public input into the project. As stated in their Oct. 19 blog post, they have given developers complete access to the framework’s codebase from today. Citing openness as one of Base's fundamental values, they claim it's essential for fostering an on-chain ecosystem, promoting accountability, and facilitating cooperation.
Base affirms their decision to share their work openly allows the public to monitor their progress and ensure they're honoring their promises. They contend that open-source initiative benefits everyone involved and paves the way to our onchain future. It provides builders not just access to a wealth of knowledge, but also opportunities to improve upon what's been done and inspire others in the field.
To facilitate increased transparency in the project's development, the decision to make the code public was undertaken. Base announced that all of its scripts and smart contracts are now accessible on Github, which indicates that developers can now scrutinize and trial the code governing Base’s deposits and withdrawals. This gives developers more tools to replicate similar functions. Open-source initiatives are crucial for the crypto landscape. When code is made available to the public, it allows anyone to scrutinize the code, potentially identifying and fixing potential weaknesses more swiftly.
However, there's a flip side to making the code public: ill-intentioned individuals who exploit detected vulnerabilities before they're flagged by developers with good intentions. In response to this issue, Coinbase has called for developers with a keen eye for security to examine the code of the layer-2 network and be wary of any security flaws, offering a reward of up to $1 million for bug detection.
Apart from opening up its smart contracts and repositories, Base has also open-sourced its web properties, which include base.org, docs.base.org, and bridge.base.org. Base has emerged as one of the most prominent layer-2 networks in the crypto sphere, with a great deal of activity spurred by the surge of Friend.tech, a decentralized social finance app built on the network. On Sep. 21, Coinbase's legal counsel Paul Grewal revealed to Decrypt that Coinbase hadn't entirely dismissed the possibility of issuing a token native to the layer-2 network.
Published At
10/20/2023 2:18:15 AM
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