Coinbase's Base network, a layer-2 scaling solution, has achieved "stage 1" rollup status, marking a step towards full decentralization. This transition reduces the network's reliance on centralized entities.
According to CoinDesk on current date, Base now features a security council comprising ten independent entities selected globally. These entities, drawn from the Base and Ethereum ecosystems, will oversee network upgrades.
Furthermore, fault proofs on Base are now permissionless. This allows anyone to verify transaction states without central authority. Base was launched by Coinbase in August 2022 and has grown to become the largest rollup with $11.72 billion locked in the protocol.