True Decentralization
The team celebrated the achievement, highlighting the launch of permissionless fault proofs and a decentralized contract upgrade process via a new security council.
Source: Vitalik Buterin
Launched in August 2023 using Optimism’s OP Stack, Base quickly grew to become Ethereum’s largest Layer 2 by total value locked.
Previously considered a ‘Stage 0’ rollup, Base depended on a centralized sequencer and lacked permissionless fault proofs, making it reliant on Coinbase for core functions.
Distributing Authority
The network began shifting toward decentralization by enabling fault proofs in October 2024, allowing anyone to challenge invalid transactions. However, Stage 1 required more, namely a decentralized governance model.
Now, Base has introduced a 10-member security council that requires 75% approval for upgrades, with over 26% of votes coming from independent entities. This reduces Coinbase’s control and spreads authority across diverse stakeholders.
Subscribe to stay informed and receive latest updates on the latest happenings in the crypto world!
Subscribe to stay informed and receive latest updates on the latest happenings in the crypto world!