Coinbase's Base, a prominent layer-2 network, has achieved 'stage 1' status, marking a crucial step towards full decentralization. This transition brings Base in line with other layer-2 networks that have reached this milestone, resulting in reduced reliance on centralized entities.
A newly established security council, comprising ten independent entities from around the globe, will be responsible for approving network upgrades as needed. Furthermore, fault proofs on Base are now permissionless, enabling anyone to verify transaction states without relying on a central authority.
This achievement is based on a framework outlined by Ethereum co-founder Vitalik Buterin, who categorized platforms according to their degree of decentralization. With this upgrade, Base, launched by Coinbase in August 2022, will become less dependent on its parent company, solidifying its position as the largest rollup with $11.72 billion locked in the protocol.