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Coinbase’s layer-2 network, Base, has declared that it has made its code repositories and smart contracts open-source to enhance transparency and accountability, while also facilitating public contributions to the initiative.
In a blog post dated Oct. 19, Base revealed that, effective immediately, developers would have complete access to the network’s codebase.
One of Base’s fundamental principles is to operate transparently
We consider this essential for developing an onchain ecosystem, fostering accountability, and promoting collaboration
In this context, we’ve made our smart contracts and GitHub repositories open source https://t.co/UOgGpNXyFL— Base ️ (@BuildOnBase) October 19, 2023
“By openly sharing our work, we empower the community to monitor our progress and verify that we are fulfilling our commitments.”
“Open source represents a mutually beneficial approach for our onchain future. Developers gain access to a wealth of knowledge, enhance existing work, and subsequently motivate others within the industry,” Base stated.
A key aspect of the decision to open-source its code is the intention to provide developers with greater transparency regarding the project’s evolution. Base indicated that all of its smart contracts and scripts are now accessible on GitHub.
This development allows developers to evaluate and experiment with the code that governs deposits and withdrawals on Base, thereby providing additional tools for those looking to implement similar functionalities.
Base network’s code and smart contract repository. Source: GitHub
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Open-source development is a vital component of the crypto philosophy. By making the code public, any member of the community can audit it, which theoretically enables vulnerabilities and potential exploits to be identified and addressed more swiftly than if the code were kept private.
However, it is important to acknowledge that open-source code also allows malicious actors to identify vulnerabilities and exploit them before a more ethical developer has the chance to report the issue.
In response to this concern, Coinbase has urged “security-minded” developers to thoroughly examine the layer-2’s code and remain vigilant for any vulnerabilities, offering a reward of up to $1 million for the identification of bugs.
Related: Coinbase selects Ireland as its European crypto hub
In addition to open-sourcing its repositories and smart contracts, Base has also made its web properties public, including base.org, docs.base.org, and bridge.base.org.
Base has emerged as one of the most dynamic layer-2 networks within the crypto landscape, with significant activity spurred by the emergence of Friend.tech, a decentralized social finance application built on the network.
On Sept. 21, Coinbase’s legal counsel Paul Grewal attracted attention when he informed Decrypt that Coinbase had not “ruled out entirely” the possibility of launching a native token for the layer-2 network.
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