Coinbase’s layer-2 network, Base, made a big announcement on October 19. They shared that they are making their code and smart contracts open-source. This means that anyone, especially developers, can now access and use their code. They believe that this move is a good thing for the future of their project and the whole cryptocurrency community.
Base wants to be more transparent, and that’s why they are opening up their code. They’ve put all their smart contracts and scripts on a platform called GitHub, where anyone can see and use them. This is important because it allows developers to understand how Base works and even make improvements to it.
In the world of cryptocurrencies, it’s common to make code open-source. It means that everyone can look at the code and find any problems or weaknesses. This helps to make the system safer because if there are issues, they can be fixed quickly. However, there’s a risk that bad people might also find problems and use them for harm.
To tackle this problem, Coinbase, which owns Base, is offering a reward of up to $1 million to developers who find and report any issues. They want “security-minded” developers to help them keep Base safe.
Apart from sharing their code, Base has also made their web properties open-source. These include websites like base.org and bridge.base.org.
Base has been very active in the world of cryptocurrencies, especially because of Friend.tech, a decentralized social finance application that uses their network.
Lastly, there’s even talk about Base having its own cryptocurrency in the future. Coinbase hasn’t said no to this idea. It’s something to watch out for.
In summary, Base, a part of Coinbase’s, has made its code and smart contracts open for everyone to see and use. This is to make things more transparent and safe. They are also offering a reward for anyone who finds and reports problems in their code. It’s an important step in the world of cryptocurrencies.
