COIN’s Base Network Reaches ‘Stage 1’ Milestone, Mitigating Centralization Risks

Base, the well-known layer-2 network associated with the cryptocurrency exchange Coinbase, has reached the designation of a “stage 1” rollup, which marks a significant step towards achieving complete decentralization.

This advancement aligns with other layer-2 networks that have also achieved similar milestones, thereby reducing their dependency on centralized organizations.

As part of this transition, Base will establish a security council comprising ten independent entities chosen globally. Tom Vieira, Base’s product head, shared that these members hail from both the Base ecosystem and the broader Ethereum community, and their role will involve approving network upgrades when necessary.

Moreover, fault proofs on Base are now accessible without permissions, allowing anyone to validate or examine the transaction states within the network independent of any central authority.

The label of “stage 1” rollup is rooted in a concept introduced by Ethereum co-founder Vitalik Buterin, who classified platforms based on their levels of decentralization. According to this framework, stage 1 incorporates specific constraints termed “limited training wheels,” which prioritize security and efficiency over full decentralization.

Buterin initially proposed this structure in 2022 with the rising popularity of rollups. A few years later, he noted his apprehensions regarding their security, stating that he would only comment publicly on layer-2 networks that achieved at least stage 1.

Launched by Coinbase in August 2022, Base has grown to become the largest rollup, with $11.72 billion locked in the process, as reported by L2Beat. This milestone means that the leading layer-2 network will not solely rely on Coinbase for its operations.