{"id":174110,"date":"2024-10-31T12:19:40","date_gmt":"2024-10-31T12:19:40","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=174110"},"modified":"2024-10-31T12:19:44","modified_gmt":"2024-10-31T12:19:44","slug":"base-mainnet-introduces-fault-proofs-unlocking-a-new-era-of-decentralization","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/base-mainnet-introduces-fault-proofs-unlocking-a-new-era-of-decentralization\/","title":{"rendered":"Base Mainnet Introduces Fault Proofs, Unlocking a New Era of Decentralization"},"content":{"rendered":"<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">TL;DR<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><strong><span data-preserver-spaces=\"true\">Base, Coinbase&#8217;s Layer 2 blockchain, introduces fault proofs on its mainnet<\/span><\/strong><span data-preserver-spaces=\"true\">, marking a significant step towards full decentralization and enhancing network security.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Fault proofs allow verifiers to challenge invalid transactions<\/span><\/strong><span data-preserver-spaces=\"true\">, ensuring the Layer 2 chain remains honest and secure, with collaboration from Optimism for a smooth launch.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Base plans to establish a Security Council for protocol upgrades <\/span><\/strong><span data-preserver-spaces=\"true\"><span data-preserver-spaces=\"true\">and aims for full decentralization by 2025, setting a new standard for Layer 2 solutions.<\/span><\/span><br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">Base, <\/span><\/strong><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/coinbase-review\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Coinbase<\/span><\/a><span data-preserver-spaces=\"true\">&#8216;s Layer 2 blockchain, <\/span><strong><span data-preserver-spaces=\"true\">has taken a significant step towards achieving full decentralization with the <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/base.mirror.xyz\/eOsedW4tm8MU5OhdGK107A9wsn-aU7MAb8f3edgX5Tk\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">introduction <\/span><\/a><span data-preserver-spaces=\"true\">of fault proofs on its mainnet.<\/span><\/strong><span data-preserver-spaces=\"true\"> Announced on October 30, 2024, this development marks a crucial milestone in Base&#8217;s journey to becoming a more secure and decentralized network. <\/span><!--more--><\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">The implementation of fault proofs allows users to monitor and challenge invalid transactions<\/span><\/strong><span data-preserver-spaces=\"true\">, eliminating the need for a centralized third party and enhancing the network&#8217;s overall security.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Enhancing Network Security<\/span><\/h2>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">Fault proofs are cryptographic mechanisms<\/span><\/strong><span data-preserver-spaces=\"true\"> that enable verifiers to check the validity of transactions on the network. <\/span><strong><span data-preserver-spaces=\"true\">When network operators attempt to pass incorrect transaction data<\/span><\/strong><span data-preserver-spaces=\"true\"> from the Layer 2 chain to the base chain, <\/span><strong><span data-preserver-spaces=\"true\">verifiers can generate fault proofs<\/span><\/strong><span data-preserver-spaces=\"true\"> to challenge these transactions. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">This system ensures that the Layer 2 chain remains honest and secure. <\/span><strong><span data-preserver-spaces=\"true\">With fault proofs now live, anyone can permissionlessly withdraw assets from the network<\/span><\/strong><span data-preserver-spaces=\"true\"> and participate in securing it by challenging potentially fraudulent withdrawal attempts.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Collaboration between Base and Optimism<\/span><\/h2>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-174111\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/BaseOptimism.jpg\" alt=\"Base Mainnet Introduces Fault Proofs, Unlocking a New Era of Decentralization\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/BaseOptimism.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/BaseOptimism-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/BaseOptimism-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">To ensure a smooth launch of the fault-proof system, <\/span><strong><span data-preserver-spaces=\"true\">Base has closely collaborated with <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/optimism\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Optimism<\/span><\/a><\/strong><span data-preserver-spaces=\"true\">, another Ethereum Layer 2 solution known for its fault-proof technology. <\/span><\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">The transition from testnet to mainnet for Base&#8217;s fault proofs took half the time compared to Optimism<\/span><\/strong><span data-preserver-spaces=\"true\">, highlighting the efficiency of the collaboration. This partnership has been instrumental in developing and implementing the fault-proof system, which is expected to foster a more decentralized environment.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Future Prospects and Security Council<\/span><\/h2>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Beyond implementing fault proofs, Base plans to establish a Security Council to oversee protocol upgrades and handle potential bugs. <\/span><\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">This council will be built on a multisig requiring 75% of signatures, with more than 26% of the members from outside the development team<\/span><\/strong><span data-preserver-spaces=\"true\">. This step is essential for achieving Stage 1 decentralization, as outlined by Ethereum co-founder Vitalik Buterin. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Base has committed to moving towards full decentralization by 2025, which will involve implementing multiple-proof systems and removing any remaining centralized elements.<\/span><\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">The introduction of fault proofs on Base&#8217;s mainnet represents a significant advancement in the network&#8217;s decentralization efforts<\/span><\/strong><span data-preserver-spaces=\"true\">. By empowering users to challenge invalid transactions and enhancing overall security, Base is setting a new standard for Layer 2 solutions. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">As the network continues to evolve, these developments will play a crucial role in shaping the future of decentralized finance and blockchain technology.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Base, Coinbase&#8217;s Layer 2 blockchain, introduces fault proofs on its mainnet, marking a significant step towards full decentralization and enhancing network security. Fault proofs allow verifiers to challenge invalid transactions, ensuring the Layer 2 chain remains honest and secure, with collaboration from Optimism for a smooth launch. Base plans to establish a Security Council &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Base Mainnet Introduces Fault Proofs, Unlocking a New Era of Decentralization\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/base-mainnet-introduces-fault-proofs-unlocking-a-new-era-of-decentralization\/#more-174110\" aria-label=\"More on Base Mainnet Introduces Fault Proofs, Unlocking a New Era of Decentralization\">Read more<\/a><\/p>\n","protected":false},"author":32,"featured_media":174112,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[102,84,74],"tags":[9521,4620,4642,5170,5469],"class_list":["post-174110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies","category-news","category-featured","tag-base","tag-blockchain","tag-coinbase","tag-layer-2","tag-optimism"],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/174110"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=174110"}],"version-history":[{"count":3,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/174110\/revisions"}],"predecessor-version":[{"id":174117,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/174110\/revisions\/174117"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/174112"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=174110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=174110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=174110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}