The Coinbase Base mainnet will allow developers to publish applications on the underlying platform. This mainnet includes two working block explorers and an official RPC node, which enables users to read data and send transactions.
In the latest development, Coinbase has unveiled its scalable Layer-2 platform mainnet, for developers. this launch It comes ahead of the Coinbase public launch scheduled for early August next month.
Earlier this year in February, Coinbase unveiled a testnet version of Base. This version of the backbone will allow developers to deploy applications to the backbone.
Coinbase Base is a network based on Ethereum Layer 2 technology. It provides developers with a cost-effective and secure platform to build on-chain solutions. Developed in partnership with Optimism and the denizens of the OP Stack, Base acts as a backlog grid. This secondary layer performs off-chain computation to enable faster and more affordable transactions, while still benefiting from the security features of the Ethereum mainnet.
In preparation for the mainnet launch, the core core team conducted comprehensive security audits, both internally and externally, to strengthen the security of the network and the Optimism Protocol Stack (OP Stack). This involved collaborations with Coinbase protocol experts as well as more than 100 external security researchers, the team said.
The basic mainnet now offers various developer tools that are readily available. These tools include node providers like Blockdaemon, QuickNode, Blast, secure storage wallets, block explorers like Etherscan and Blockscout, and data indexers like The Graph and Covalent, the team confirmed.
More details about the Coinbase mainnet
In their July 13 announcement, the team revealed that the underlying mainnet now includes working block explorers and an official RPC node, which enables users to read data and send transactions. Data from these explorers indicates that the network has been operational since July 2 and has successfully processed more than 1 million transactions.
Blockchain data confirms the deployment of an official “OptimismPortal,” or base bridge contract, on the Ethereum network. This contract facilitates the transfer of ether (ETH) to the new network to cover gas fees. However, it is important to note that the bridge does not have a web-based user interface and can only be accessed through a command line interface or by running scripts.
During the initial “build” phase, the team decided not to provide a publicly available bridge with a user interface. This feature is reserved for a launch next year, and developers are advised not to release their own user interfaces for their apps until then.
To celebrate the event, the team is offering builders the opportunity to mint a non-fungible token (NFT) called “Base is for Builders.” In addition, any developer who posts a contract on the network and completes a form on the project’s website will receive a “Genesis Builder NFT” as a token of appreciation.
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Bhushan is a financial technology enthusiast with a good knack for understanding financial markets. His interest in economics and finance has turned his attention towards the new emerging Blockchain technology and Cryptocurrency markets. He is persistent in the learning process and keeps himself motivated by sharing the knowledge gained. In his spare time he reads fantasy and thriller novels and occasionally explores his culinary skills.