Base

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 <p>Coin<a rel="noopener noreferrer nofollow" title="Base" href="https://thebittimes.com/tag/base.html">Base</a>, a leading <a rel="noopener noreferrer nofollow" title="cryptocurrency" href="https://thebittimes.com/tag/cryptocurrency.html">cryptocurrency</a> exchange, introduced its layer-2 network called <a rel="noopener noreferrer nofollow" title="Base" href="https://thebittimes.com/tag/base.html">Base</a> earlier this year. This network quickly gained widespread recognition and adoption. To further enhance its offerings and foster transparency, the <a rel="noopener noreferrer nofollow" title="Base" href="https://thebittimes.com/tag/base.html">Base</a> network has recently made its code repositories and smart contracts open source. Through this, it emphasized its commitment to developing in a transparent and collaborative manner.</p>
 <p>In a recent blog post, <a rel="noopener noreferrer nofollow" title="Base" href="https://thebittimes.com/tag/base.html">Base</a> announced its decision to grant developers complete access to the network’s code<a rel="noopener noreferrer nofollow" title="Base" href="https://thebittimes.com/tag/base.html">Base</a>. The primary motivation behind this open-sourcing initiative is to offer developers greater visibility into the project’s development process. <a rel="noopener noreferrer nofollow" title="Base" href="https://thebittimes.com/tag/base.html">Base</a> has disclosed that all of its smart contracts and scripts are now accessible to the public on GitHub. The blog post further read,</p>
 <p><strong>“By sharing our work openly, we enable the community to track our progress and ensure that we’re living up to our commitments. Open source is a win-win for our onchain future. Builders get access to a trove of knowledge, improve on what’s already been done, and in turn inspire others in the space.”</strong></p>
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    <p lang="en" dir="ltr">We’ve open sourced our smart contract repos to provide developers with increased transparency around <a rel="noopener noreferrer nofollow" title="Base" href="https://thebittimes.com/tag/base.html">Base</a>’s contract development, deployment, and upgrade process<br><br>All contracts and scripts for <a rel="noopener noreferrer nofollow" title="Base" href="https://thebittimes.com/tag/base.html">Base</a> are publicly available on GitHubhttps://t.co/b7DAZyyNCL</p>— Base 🛡️ (@BuildOnBase) October 19, 2023
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 <p>Although Coinbase and Base’s decision to open-source their code is a significant step, it does come with inherent risks. One such risk is the potential for open-source code to be exploited. However, Coinbase has taken proactive measures by encouraging security-focused developers to thoroughly examine the layer-2 network’s code and remain vigilant for any vulnerabilities. To incentivize this security effort, Coinbase is offering a bug bounty program. This entails rewards of up to $1 million for identifying and reporting bugs.</p>
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 <p><strong>Also Read: Coinbase Announces 80 Trading Pairs To Be Delisted</strong></p>
 <h4 class="wp-block-heading" id="h-so-how-is-the-base-network-faring">So how is the Base network faring?</h4>
 <p>Data from DeFi Llama reveals that the total value locked in the Base network has been experiencing a decline. In September, the network witnessed a remarkable surge. The network climbed from just $8 million in August to an impressive high of $410 million. However, the network’s positive momentum encountered a setback, with the total value locked declining to $303.64 million at the time of this report. Additionally, there has been a significant decrease in the network’s trading volume, the number of users, and the overall transaction activity on this layer-2 network.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="472" src="https://cdn.thebittimes.com/images/2023/10/20/636f1bbba0af6844c5f32ce46aa09b11.webp" alt class="wp-image-116632" srcset="https://cdn.thebittimes.com/images/2023/10/20/636f1bbba0af6844c5f32ce46aa09b11.webp 1024w, https://cdn.thebittimes.com/images/2023/10/20/636f1bbba0af6844c5f32ce46aa09b11.webp 300w, https://cdn.thebittimes.com/images/2023/10/20/636f1bbba0af6844c5f32ce46aa09b11.webp 768w, https://cdn.thebittimes.com/images/2023/10/20/636f1bbba0af6844c5f32ce46aa09b11.webp 380w, https://cdn.thebittimes.com/images/2023/10/20/636f1bbba0af6844c5f32ce46aa09b11.webp 550w, https://cdn.thebittimes.com/images/2023/10/20/636f1bbba0af6844c5f32ce46aa09b11.webp 800w, https://cdn.thebittimes.com/images/2023/10/20/636f1bbba0af6844c5f32ce46aa09b11.webp 1160w, https://cdn.thebittimes.com/images/2023/10/20/636f1bbba0af6844c5f32ce46aa09b11.webp 1432w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p>Coinbase’s latest move could certainly attract more users into the Base network.</p>
 <p><strong>Also Read: Coinbase’s Base TVL Surges 25% Post Tokenized US Treasuries Inclusion</strong></p>
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<div class="cs-entry__tags">
 <ul>
  <li>Base</li>
  <li>COINBASE</li>
  <li>crypto</li>
  <li>cryptocurrency</li>
 </ul>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/coinbase-open-sources-layer-2-network-base-code-as-tvl-dips-tbt67079.html">https://thebittimes.com/coinbase-open-sources-layer-2-network-base-code-as-tvl-dips-tbt67079.html</a></p>

Coinbase Open Sources Layer-2 Network Base Code as TVL Dips

TheBitTimes

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