Base: The Rising Star of Ethereum Layer 2 Networks

Base is an Ethereum Layer 2 network built on the open-source OP Stack. It aims to provide a secure and reliable infrastructure for decentralized applications while maintaining low costs and high efficiency.

The Main Advantages of Base

1. Security: Base utilizes the underlying security mechanism of Ethereum to provide users with reliable protection.

2. High performance and low fees: Base offers complete EVM compatibility while maintaining very low transaction costs.

3. Strong ecological support: Base can seamlessly integrate various products and tools, providing convenience for developers.

4. Open Source and Transparency: Base is committed to becoming a decentralized, permissionless open platform.

The Original Intention of Building Base

The team hopes to accelerate the development of on-chain products through Base, making the construction of dapps more convenient. At the same time, Base aims to serve as a bridge connecting Ethereum, other layer two networks, and various ecosystems, bringing users a richer experience in the crypto economy.

In addition, the launch of Base also reflects a continued investment in core crypto infrastructure, such as support for EIP4844 to reduce the costs of rollups.

Project Concept

1. Interconnectivity: Base is committed to being a bridge between various blockchain ecosystems, rather than an isolated platform.

2. Decentralization: Although it is currently incubated by a team, it will develop towards complete decentralization in the future.

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

4. Inclusive and Open: Base aims to create an open ecosystem that welcomes participation and contributions from all parties.

Project Progress

• February 23, 2023: Launch of Base testnet
• February 24, 2023: Several well-known projects announced that they will build applications on Base.
• March 4, 2023: Providing rewards for infrastructure developers at ETHDenver

2023 Roadmap

1. Launch the fault prover to enhance the security of the Base and Optimism mainnets.
2. Promote the decentralized upgrade of smart contracts
3. Launch the initial version of the superchain
4. 2024 Target: Advance the Base and Optimism mainnet to the second stage Rollup

Summary

Base and Optimism are both built on the OP Stack, aiming to attract more developers to participate and create more layer 2 network applications. Their goal is to build a multi-chain interoperable and low-cost interaction superchain ecosystem around Ethereum.

The launch of Base reflects the industry trend: shifting from competition among single public chains to focusing on the Ethereum ecosystem. As an emerging Layer 2 network, Base is expected to play an important role in the future of the crypto economy, leveraging the industry accumulation and influence behind it.