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Coinbase’s Layer 2 network, known as Base, is preparing for its mainnet launch. Since its introduction on testnet earlier this year, Base has successfully fulfilled 4 out of 5 criteria for the forthcoming event, prioritizing security in its aim to engage the next million developers and a billion users on-chain.
Consequently, the team responsible for protocol security has intensified efforts to enhance the security of both Base and Optimism over the past six months. So far, the experts have not identified any significant vulnerabilities.
Base’s Security First Mindset
As stated in the blog post, the developers have conducted audits on all Optimism pre-deploys and contracts across both L1 and L2 to identify bugs and risks within the technology stack.
‘Fuzzing’ techniques were utilized for essential components such as the L2 bridge and the sequencer, in addition to creating operational runbooks for various risk scenarios and distress events.
The team also assessed and audited the key management configuration and contracts for Base.
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Upon completing these audits, no critical severity bugs were found by over 100 external security researchers engaged for this purpose. This has increased Base’s confidence to move forward with the mainnet launch, as stated by the platform.
The team is currently focused on addressing any informative or minor issues reported during the auditing process.
“Our objective with all our security initiatives is to anticipate potential threats and mitigate the impact of these attacks. We take pride in the efforts we’ve made to secure Base, and while even the most robust controls may occasionally fail, we will continually learn and improve.”
Going Forward
In February, Coinbase introduced its own Ethereum layer-2 network, developed in partnership with Optimism. The mainnet launch is expected to occur sometime in 2023. As part of the collaboration, the crypto exchange became a core developer on the open-source OP Stack.
Looking ahead, Base announced the introduction of an open-source monitoring tool named Pessimism, which is intended to alert builders to any anomalies such as irregular account balances, contract events, or inconsistencies between L1 and L2 states.
Additionally, this new tool will complement existing OP Labs monitoring solutions, Coinbase’s native blockchain monitoring features, and third-party tools for identifying malicious and atypical events.
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