Coinbase's Base Prepares for Mainnet Launch With Slew of Security Audits

Base, the layer 2 blockchain developed by Nasdaq-listed crypto exchange Coinbase (COIN), has completed a series of security audits as it prepares to launch its mainnet with the aim of attracting as many as 1 million new crypto users in coming years.

Base, which is built on the OP stack in collaboration with Optimism, was announced in February. To battle test the blockchain itself and the OP stack's security, Coinbase commissioned a six-month internal audit from its protocol security team, according to a press release.

The team audited all of Optimism's pre-deployments and smart contracts on both layer 1 and layer 2 to identify potential vulnerabilities of security risks, Coinbase said.

It also used a technique called fuzzing, which consists of finding implementation bugs using malformed code that is injected into existing code through automation. This particular technique was used on crucial components like the layer 2 blockchain bridge to layer 1 and the sequencer.

Cross-chain bridges are used to transfers assets from one blockchain to another and are a commonly used attack vector for hackers and exploiters. Security firm Chainalysis estimated that $2 billion was stolen from crypto bridges in 2022.

Base also engaged more than 100 external security researchers in its efforts to find and fix potential vulnerabilities, the press release added.

Base has not provided a date for when the mainnet will go live. It has, however, said it will not feature a native token, unlike other layer 2 blockchains Polygon, Optimism and Arbitrum.