Coinbase has announced that it has open-sourced Base’s code repositories along with smart contracts. Users were notified that this step was taken to boost transparency and accountability while simultaneously increasing public contribution toward the project.
The move was announced by the platform’s team on X, stating that developers would be granted complete access to the network’s code. The platform highlighted that it would enable the community to track its progress and ensure whether or not the network is living up to its commitments.
One of Base’s 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, we’ve open sourced our smart contract and GitHub reposhttps://t.co/UOgGpNXyFL
— Base 🛡️ (@BuildOnBase) October 19, 2023
The team continued to explain that open-sourcing the platform’s code was probably the right decision as it is a win-win situation for its on-chain future. It would be easier for developers to get a treasure of knowledge, improve existing elements, and inspire others within the same space.
It became evident that one of the fundamental goals to achieve via the open-sourcing of the code was to provide developers with the necessary transparency into the project’s continuous developments. The layer 2 network highlighted that all of its smart contracts and scripts are now available on GitHub.
Base Has Open-Sourced its Web Properties
Open-source development is an important element of the crypto ethos. As the code is made available to the masses, it becomes possible for anyone to audit the code, which eventually allows the discovery of potential vulnerabilities and exploits.
This identification would also set the stage for quick fixes. However, bad actors could also identify such vulnerabilities and plan their attacks even before the fix is implemented.
Considering how concerning the identification of bugs is, Coinbase has encouraged security-minded individuals to keep an eye out for any vulnerabilities.
Similarly, the exchange would offer bounties of up to $1 million for the identification of bugs. The network has also open-sourced its web properties including base.org, docs.base.org, and bridge.base.org.
The exchange has established itself as one of the most active layer 2 networks within the crypto ecosystem. A great percentage of overall activity on the platform is associated with the continuous rise of Friend.Tech, which is a decentralized finance application built on top of Base. Many believe that the crypto exchange will soon roll out a native token for the layer 2 network.