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Base was introduced in 2023 and swiftly emerged as one of the most commonly utilized Ethereum layer-2 networks.
What to know:
- Coinbase’s Ethereum layer-2 network, Base, is altering the underlying technology, moving away from its dependency on Optimism’s OP Stack, the framework it initially utilized.
- Base was introduced in 2023 and quickly rose to be one of the most utilized Ethereum layer-2 networks, with $3.85 billion currently locked in the protocol.
- The OP token has dropped 4% in the last 24 hours following this announcement.
Coinbase’s Ethereum layer-2 network, Base, is altering the underlying technology, moving away from its dependency on Optimism’s OP Stack, the framework it initially utilized.
In a blog post titled “The Next Chapter for Base,” the team expressed its intention to gain greater control over its own code and infrastructure. Rather than relying on various external teams for significant updates and modifications, Base will centralize everything into a Base-managed codebase.
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In essence, Base was constructed using Optimism’s technology, but it now seeks to navigate its own course. Optimism is a layer-2 blockchain atop Ethereum designed to decrease settlement durations and transaction fees.
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Base was introduced in 2023 and quickly rose to be one of the most utilized Ethereum layer-2 networks, with $3.85 billion currently locked in the protocol.
The OP token has decreased by 4% over the last 24 hours following the announcement.
OP Token (CoinDesk)
The team noted that this transition does not imply that Base is severing its relationship with Optimism completely. They stated that collaboration with Optimism for support will continue, and Base will remain aligned with OP Stack standards throughout the transition. For everyday users and developers, there should be no immediate changes.
The team indicated that the rationale for this transition is that by controlling its own stack, Base can implement upgrades more swiftly and streamline the network’s operation behind the scenes, aiming to enhance its pace of significant upgrades to approximately six annually.
Currently, the transition remains predominantly technical.
"This unification does not imply that Base will be developed in isolation. The protocol continues to be public and defined openly, and alternative implementations are encouraged and welcomed," the team conveyed in their blog post.
Read more: Coinbase Officially Launches Base Blockchain in Milestone for a Public Company
