Base, the Coinbase layer-2 network, is progressing along its roadmap in preparation for launch to mainnet.
On May 24, Base shared its launch criteria as the network readies for deployment. “Base is gearing up for mainnet with safety and security as top priorities,” it stated.
Additionally, there was a reminder that there would be no Base token launch. However, that didn’t stop so-called ‘degens’ from pumping the unrelated BASE token when the network was announced earlier this year.
Base Eyeing a Billion Users
The Base testnet has been live since February as the network is upgraded and battle-tested in preparation for full launch.
Base is an Ethereum layer-2 network built on the Optimism OP stack. Furthermore, the aim is to provide a secure and low-cost way for developers to build decentralized apps on-chain. Coinbase has grand ambitions for Base in its mission to “increase economic freedom and opportunity around the world.”
“To advance this purpose, Base is providing a platform to onboard the next million developers and billion users into the cryptoeconomy.”
The testing phase has seen Base used for gaming, NFTs, infrastructure, developer tooling, wallets, security, DeFi, oracles, analytics, bridging, payments, DAOs, and social applications.
It touted a number of use case examples. This includes Blackbird, a restaurant loyalty platform, the NFT-based trading card game Parallel, and the Blockchain development toolkit Thirdweb.
It has completed two of the five criteria listed for launch. These are completing a successful Regolith hard fork in testnet and a successful infrastructure review with the OP Labs team.
The outstanding items include the Optimism Bedrock upgrade, internal and external audits with no critical severity issues, and testnet stability.
Furthermore, there will be a “Genesis Window” on the path to mainnet. This is a period for developers to deploy decentralized applications on Base.
The main piece of information the update omitted was a timeframe for the mainnet launch. However, it did state that this was not a priority.
“Our most important priorities are to ensure the safety and security of the network, followed by clear communication so developers can prepare. Timely mainnet deployment ranks third.”
Coinbase Branching Into Europe
In related news, reports have emerged that Coinbase has partnered with Bitpanda. The Austrian-based crypto exchange and trading platform will work with Coinbase to connect its clients to banks in Europe.
The move is the latest effort by Coinbase to put more distance between it and the wrath of U.S. regulators.
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