Coinbase's Base Introduces Open-Source Tools
Coinbase's Base shares its tools and web info with everyone, aiming for honesty and better teamwork with developers. It's now a top player in digital finance.
On October 19, Coinbase opened its Base smart contract and web tools to everyone. They did this to be more open and transparent.
By sharing these tools, Coinbase wants to help and work with developers. Developers can use the tools Coinbase has made oreven improve it.
Open sourcing lets the community give feedback and helps find any issues. Coinbase said, “We've shown everyone how we make, use, and change our smart contract.” All these details can be found on GitHub.
Base has also shown how it manages its security keys. The company said this is to show users and developers how secure and safe they are.
Also, all Base's websites, like base(dot)org, have been shared too. This helps developers see how Base added special features and improve the website.
On the same day, Base also talked about changing its test network from Goerli to Sepolia. They claimed that this change is important for a better digital world. “This shift isn’t just a technical move; it’s a stride toward creating a more unified ecosystem,” they said.
Coinbase’s Base started in July. It had some issues at first, like a network problem in September. During this period, some people tried to exploit the network and rugpoll some projects.
Still, Base grew fast. It's now the third most valuable in the layer-2 digital world.
Base has a value of $549 million, making it the third biggest layer-2. In a short time, it became more important than others like zkSync and dYdX.
But, Base has only 5.26% of the market. Most of the market is owned by Arbitrum One and Optimism. They control almost 80% of the Market share.
Base uses a special technology called Optimistic Rollups from the Ethereum network.
