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When fault proofs go live on mainnet, Base will reduce its reliance on central authorities and enhance transparency and accountability.
Base has launched fault proofs on its Sepolia testnet, a key step toward decentralizing the network and enhancing its security. This move marks progress toward Stage 1 decentralization, allowing more community participation in verifying the network’s state. The details of the launch were shared through the network’s official page on Mirror, a web3 publishing platform.
Understanding Fault Proofs
Fault proofs are instrumental in the decentralization of Layer 2 networks. They enable anyone to propose or challenge claims about the network’s state in a permissionless manner. This development shifts the power from centralized operators, who previously had exclusive rights to make such claims, to the wider community.
When fault proofs go live on mainnet, Base will reduce its reliance on central authorities and enhance transparency and accountability. Previously, the Ethereum layer 2 network Optimism (OP) also announced the implementation of fault-proof functionality on its mainnet.
Progressing through Decentralization Stages
Base is advancing through Vitalik Buterin’s stages of decentralization. Currently, the network is in Stage 0, where centralized operators handle all transaction verification. Moving to Stage 1 will involve using fault proofs to verify the network’s state and include a mechanism for gaining consensus from external stakeholders if needed. This stage marks a shift towards less centralization.
Stage 2 will further this effort by restricting network changes to situations where bugs are found and introducing a 30-day delay for contract upgrades. The recent addition of fault proofs on the testnet is a crucial step in preparing for their secure deployment on the mainnet, highlighting Base’s commitment to improving its decentralized governance.
Base’s Growing User Base
Base’s network has seen a remarkable increase in user engagement recently. On July 22, the number of daily active addresses surpassed 1.2 million, far exceeding the numbers of competitors like Arbitrum and Optimism. This surge reflects growing interest and confidence in Base. In addition, the network’s total value locked (TVL) has recovered to over $1.76 billion as of July 24, after experiencing a dip earlier in the month.
Base initially gained traction due to its affiliation with Coinbase, which provided a strong foundation and increased visibility in the blockchain space. However, the network’s resilience and sustained user adoption highlight Base’s technical appeal to both developers and users.
Base’s Political Milestones
In addition to its technical advancements, Base has made strides in the political sphere with the launch of an on-chain donations platform. This platform allows US politicians to receive cryptocurrency contributions, supporting over 240 crypto assets, including Bitcoin and Ethereum, as well as traditional credit card payments.
The platform aims to streamline the donation process while ensuring compliance with US regulations. Notable politicians, including Senator Cynthia Lummis and Representative Tom Emmer, have already signed up to receive crypto donations, showcasing Base’s expanding influence beyond the traditional blockchain space.
