Coinbase releases Base development plan! Collaborating with Optimism to integrate L2 network, creating a "super chain"
After Coinbase announced the launch of the L2 solution Base earlier today, they also revealed Base's future development plans to the community. In addition to aiming to bring Coinbase's large user base into the decentralized world, they will also collaborate with Optimism to build an L2 multi-chain network system called "Superchain."
Lead-in: Surprise revealed! Coinbase launches OP-based L2 "Base," no coin issuance, Gas using ETH
Table of Contents
The Vision of Coinbase
In a previous article by Coinbase, it was mentioned that the development of Base is aimed at accelerating the completion of Coinbase's mission and promoting the mass adoption of the crypto economy. Base will serve as the primary hub for Coinbase's on-chain products and will also be an open development ecosystem, aiming to bring in 1 billion users into the crypto economy.
However, Coinbase recognizes that building a crypto ecosystem cannot be achieved by a single organization or enterprise alone. Decentralization and collaboration are essential keys to the success of Base and the expansion of Ethereum.
Therefore, Coinbase is collaborating with Op Labs and the community team of Optimism Collective to achieve the above goals and accelerate the development and decentralization of OP open-source code OP Stack and OP Superchain* Superchain.
1. Accelerating On-Chain Activities on Superchain:
Base is the second L2 deployed on the Optimism mainnet after OP Stack and is intended to be part of the Superchain. Base will bring Coinbase's on-chain products and user base into the Superchain ecosystem to increase its activity, allowing Coinbase users to seamlessly interact with dapps and move assets across the entire ecosystem.
2. Adding Value to the Superchain:
Base will provide a certain percentage of fees earned through transaction activities to Optimism Collective to become a part of the Superchain and provide funding for the core public infrastructure of the Superchain and the broader crypto economy.
3. Fostering Developer Ecosystem:
Base will continue to work closely with OP Labs and Optimism Collective to make it easier for developers to build new L2s and rollups and deploy their applications on the Superchain.
4. Building a Collaborative Crypto Economy:
Both Base and the Optimism mainnet will operate as independent L2s in the short term, providing a suite of products for the crypto economy, such as swaps and lending. In the long run, it is expected that there will be use cases where deploying on either the Optimism mainnet or Base makes more sense, allowing developers to flexibly deploy on the L2 that best suits their use case.
Note: Superchain is the latest project launched by Optimistic, aiming to integrate individual L2s into a collaborative and composable system. As the platform for these chains, Optimistic will share its OP open-source code, aiming to make running a network of L2s as simple as deploying smart contracts on Ethereum.
Coinbase's 2023 Development Plan
In 2023, Coinbase plans to advance Base and the Optimism mainnet from Stage 0 rollup to Stage 1 rollup as defined by Vitalik through the following ways:
- Initiate at least one fault prover for OP Stack, using a set of validators to identify and resolve faults to protect Base and the Optimism mainnet.
- Realize the decentralized upgrade of Base and the Optimism mainnet smart contracts, starting with a security council based on decentralized distributed systems not controlled by any organization.
- Launch the initial version of the Superchain, which can sort transactions of Base, Optimism mainnet, and any OP Stack rollup to protect the rights of anyone participating in these ecosystems.
In 2024, Coinbase aims to advance Base and the Optimism mainnet to Stage 2 rollup, making their decentralization and security comparable to Ethereum.