Ethereum

Coinbase, the largest cryptocurrency exchange in the US and the world&#39;s biggest publicly traded crypto company, has recently published a <a href="https://base.mirror.xyz/aBwt4flT1WAKJGQTj2AXBpH_8Qd3umQ-ZECLAJoO_nE" rel="noopener noreferrer nofollow">blog post</a> highlighting its strong commitment to upholding the principles of decentralisation in relation to its newly launched Ethereum layer-2 scaling protocol known as Base.Base, which is an open-source and permissionless protocol operating on the Ethereum layer-2, gained significant attention upon its recent launch and is rapidly establishing itself as a prominent participant within the Ethereum ecosystem.Developed using the open-source OP Stack and in partnership with the Optimism Collective, Base is actively striving to enhance decentralisation, guided by the principles of the Law of Chains, as stated in the blog post.The framework of the Law of Chains has been designed to facilitate seamless interaction among different chains, aligning with the shared vision of Base and the Optimism Collective to create a unified &#34;superchain.&#34;As such, Coinbase has committed to launching Base with a management structure to remove any points of centralisation.There will be a 2-2 contract upgrade multisig structure to prevent any individual or entity from triggering upgrades to smart contracts, and a 1-2 challenger key structure will let either the Base team or the Optimism Foundation delete invalid output proposals in the event of a failure or misbehaviour.Coinbase has also stated that they are continuing to work on decentralising the control of the upgrade keys to the security council, and that they hope to “lead the way in creating open, permissionless, homogenous blockspace across the Superchain and thereby enable the global onchain economy”.

Coinbase Commits to Decentralisation on BASE Blockchain

Coinlive

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