**Coinbase Opens Up Base: How the Exchange's Layer-2 Network is Powering the Onchain Future**
Coinbase, the world's leading crypto exchange, has made a bold move by open-sourcing the code for its layer-2 network Base, which enables fast, cheap and scalable transactions for decentralized applications (DApps) and protocols. The exchange hopes to increase the transparency and accountability of the network, as well as foster collaboration and innovation among developers in the crypto space.
Base is a layer-2 network that uses optimistic rollups, a technique that bundles multiple transactions into a single proof that is periodically submitted to the Ethereum mainnet. This reduces the congestion and fees on the base layer, while preserving the security and decentralization of Ethereum. Base also supports arbitrary smart contracts, allowing developers to build complex and expressive DApps on top of the network.In an official blog post, Base announced that it has open-sourced its code repositories and smart contracts on GitHub, giving full access to the network's codebase to the public. The blog post states:> One of Baseâs core values is building in the open. We believe this is foundational to building an onchain ecosystem, creating accountability, and enabling collaboration. In this spirit, weâve open sourced our smart contract and GitHub repos. Open source is a win-win for our onchain future. Builders get access to a trove of knowledge, improve on whatâs already been done, and in turn inspire others in the space.The open-sourced code includes the smart contracts and scripts responsible for deposits and withdrawals on Base, as well as the web properties such as base.org, docs.base.org, etc.
Coinbase also invites security-minded developers to audit the code and report any vulnerabilities or bugs they find. The exchange offers a bounty program that rewards up to $1 million for critical issues that could compromise the network's integrity or user funds. #xrp #etf #geminiearn #ftx @binance #crypto2023
