Base: A New Member of the Ethereum Layer 2 Network

Base is a layer two network solution based on Ethereum, built on the open-source OP Stack. As an emerging blockchain platform, Base aims to provide developers and users with an efficient, low-cost, and secure blockchain experience.

Main Features of Base

1. Security: Base inherits the underlying security of Ethereum while incorporating best practices from its parent company.

2. Efficient and Low Cost: Base provides complete EVM compatibility while maintaining extremely low transaction costs.

3. Strong Support: Users can easily access related products, tools, and a large user community.

4. Open Source Philosophy: Base is committed to achieving a decentralized, permissionless, and open goal for everyone.

Motivation for the Development of Base

In the past, the products of a certain trading platform mainly relied on traditional Web2 infrastructure. Over time, the platform gradually realized the importance of native on-chain products, such as stablecoins and crypto wallets. These products brought considerable activity and revenue to the platform.

In the future, the platform plans to develop more products that leverage on-chain environmental capabilities. To achieve the goal of bringing billions of users into the crypto economy, decentralized applications need to become more user-friendly, more affordable, and more secure. The birth of Base is aimed at simplifying the process for developers to build these applications.

Core Principles of Base

1. Bridge Connection: Base aims to be the bridge connecting the Ethereum mainnet, other layer two networks, and other blockchain ecosystems.

2. Decentralization: Although initially incubated by a certain trading platform, Base plans to achieve complete decentralization in the coming years.

3. Open Source Spirit: Base is built on the OP Stack under the MIT license, encouraging community contributions and innovation.

4. Inclusive and Win-Win: Base is committed to building an open ecosystem and welcomes all parties to participate in co-construction.

Project Progress

Base launched its testnet in February 2023 and quickly attracted several well-known projects to join its ecosystem. In March of the same year, Base offered generous bounties for infrastructure developers at the ETHDenver event.

2023 Roadmap

• Start the fault prover to enhance network security.
• Upgradeability of decentralized smart contracts
• Launch the initial version of the Super Chain
• Continue to advance the decentralization process

Summary

Base and Optimism are both built on the OP Stack, aimed at attracting more developers to create more applications and Layer 2 networks. Their goal is to build a multi-chain interoperable, low-cost superchain ecosystem around Ethereum.

Base's development strategy reflects the overall trend of the blockchain industry: no longer pursuing to surpass Ethereum, but seeking to develop in synergy with Ethereum. As an emerging layer 2 network, Base, backed by its strong resources and user base, is expected to occupy an important position in the future blockchain ecosystem. However, in the face of regulatory pressure and challenges from competitors, how Base can maintain its competitiveness without issuing tokens is still a question worth关注.