Base Grows as Largest Ethereum Layer 2 Rollup: Plans for Decentralization
Ethereum Layer 2 – Base, an Ethereum Layer 2 platform incubated by Coinbase, is set to implement permissionless fault proofs on October 30, a significant step toward decentralizing the network and reducing single-entity control. In an official statement, Base announced, “Fault proofs are coming to Base mainnet on October 30th, marking a key milestone on the path to decentralization.”
Background and Growth of Base
Launched in August 2023, Base has rapidly become the largest Layer 2 rollup on Ethereum, measured by total value locked (TVL). Developed using Optimism’s OP Stack package, Base is part of the growing ecosystem of Ethereum Layer 2 solutions, designed to enhance scalability and reduce costs.
Modeling After Optimism’s Success
The upcoming fault proofs on Base are modeled after a successful deployment on Optimism’s flagship blockchain, OP Mainnet. Both platforms are integral to the Superchain ecosystem, which includes projects like Zora, Mode, and Fraxtal. Base’s collaboration with Optimism on this upgrade highlights a shared commitment to advancing decentralized solutions.
Mechanism of Fault Proofs
Fault proofs serve as a critical mechanism for Ethereum Layer 2 networks, allowing users to challenge potentially fraudulent or erroneous transactions. Prior to this upgrade, only a centralized proposer had the authority to submit output roots regarding the state of the Base network. This arrangement necessitated users’ trust in operators to accurately report state roots to the mainnet.
With the implementation of fault proofs, any participant can assert claims about the Base network’s state and contest invalid withdrawals. This innovation is expected to significantly enhance the network’s security and trustworthiness.
Current State of Layer 2 Networks
While many optimistic rollup blockchains have yet to fully decentralize by incorporating fault proofs and maintaining decentralized contract upgrades, notable exceptions include Arbitrum and OP Mainnet, both of which already feature fault proofs. This trend emphasizes the need for evolving Layer 2 solutions to ensure better security and decentralization.
FAQ about Base’s Implementation of Permissionless Fault Proofs
What are permissionless fault proofs?
Permissionless fault proofs are mechanisms that allow any participant in the network to challenge potentially fraudulent or incorrect transactions, enhancing the overall security and decentralization of the blockchain.
When will Base implement these fault proofs?
Base plans to implement permissionless fault proofs on October 30.
How will fault proofs affect the Base network?
The introduction of fault proofs will decentralize the network by allowing multiple participants to report and challenge the state of the network, rather than relying solely on a centralized proposer.
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