Coinbase layer-2 network, Base, has taken a significant leap in its journey towards transparency and collaboration by open-sourcing its code repositories and smart contracts. This move, announced in an October 19 blog post, grants developers complete access to the network’s code.
Base emphasized the importance of this action: “Open source paves the way for our onchain future. By providing builders with this knowledge bank, we empower them to enhance existing systems and inspire others.” With all smart contracts and scripts now available on GitHub, this move assures complete visibility into the project’s ongoing development.
Developers now have the tools to experiment with Base’s deposit and withdrawal code, potentially pioneering similar functions. This aligns well with the core spirit of the crypto world, where open-source development is celebrated. Publicly accessible code not only promotes transparency but also lets the wider community audit it. This community oversight can potentially lead to quicker identification and rectification of vulnerabilities.
However, the flip side to this is that malicious actors might exploit these vulnerabilities before they’re flagged by well-intentioned developers. To counteract this, Coinbase has initiated a challenge. They’re offering a whopping $1 million bounty to “security-minded” developers who can pinpoint bugs in Base’s code.
In addition to its core codebase, Base has also made its web properties, including base.org, docs.base.org, and bridge.base.org, open source.
Base has carved out a significant niche in the crypto realm, notably spurred on by Friend.tech, a decentralized finance application built atop its infrastructure. A potential cherry on top? Speculations are rife since Coinbase’s legal counsel hinted last month at a possible native token for Base in the future.
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