Coinbase’s Base Network Hits Stage 1 Decentralization Milestone
Base, Coinbase’s layer 2 blockchain, has achieved Stage 1 Decentralization by implementing fault proofs and forming a decentralized Security Council. This accomplishment places Base among an elite group of 10 L2 networks to reach this level of decentralization, as per Vitalik Buterin’s framework. The development marks a significant step toward enhancing security and trustlessness in the network.
Base Achieves Stage 1 Decentralization, Joining Elite Group of L2 Networks
Base, the layer 2 blockchain, has reached Stage 1 Decentralization by implementing fault proofs and establishing a decentralized Security Council. This milestone makes it the 10th L2 network to achieve at least this level of decentralization, as outlined in Ethereum co-founder Vitalik Buterin’s framework.
Fault proofs enable permissionless dispute resolution, allowing participants to challenge claims about Base’s state. The system is supported by open-source challenger software and financial incentives, fostering a trustless environment.
The newly formed Security Council, requiring 75% consensus among Base, Optimism, and 10 independent global entities, now holds veto power over contract upgrades. This structure significantly reduces single points of failure while maintaining upgradeability.
Bitcoin Nears $96K Amid Market Calm, Crypto Stocks Show Modest Gains
Bitcoin edged closer to the $96,000 mark, rising 1% over the past 24 hours to trade near $95,400. The broader crypto market remained steady despite lingering concerns over U.S. trade policies. Bitcoin Cash led gains among major assets, climbing 6.3%.
Crypto-related equities saw muted activity, with Coinbase and MicroStrategy posting modest advances. Janover surged 16% as its Solana accumulation strategy continued to attract investor interest.
The CoinDesk 20 index, excluding stablecoins and memecoins, gained 1.1% in a session that underscored the market’s resilience. Traders appeared to look past macroeconomic uncertainties, focusing instead on Bitcoin’s persistent upward trajectory.
