Base Achieves Phase One Decentralization, Introduces Fraud Proof Mechanism

Base, a prominent Layer 2 rollup on Ethereum, has achieved a significant milestone by reaching "Phase One" of Ethereum Rollup decentralization. This development marks a crucial step in reducing the network's reliance on centralized participants, aligning with the decentralization framework proposed by Ethereum co-founder Vitalik Buterin.

The Base team announced that the network has successfully introduced a permissionless dispute resolution mechanism, also known as a Fraud Proof mechanism. This mechanism allows for the verification of transactions without the need for a centralized authority, enhancing the network's security and trustworthiness. Additionally, Base has established a Security Council to oversee the decentralization of the contract upgrade process, further solidifying its commitment to a more decentralized future.

Base was launched in August 2023 using Optimism's OP Stack package and has since grown to become the largest Total Value Locked (TVL) Layer 2 rollup on Ethereum. Previously, Base was considered a Phase 0 Rollup due to its dependence on a Coinbase-controlled centralized sequencer and the absence of a fully operational permissionless dispute resolution on its mainnet. The recent advancements in decentralization represent a significant leap forward for the network, positioning it as a leader in the Ethereum Layer 2 ecosystem.

The introduction of the Fraud Proof mechanism and the establishment of the Security Council are pivotal steps in Base's journey towards full decentralization. These developments not only enhance the network's security and reliability but also pave the way for a more open and global on-chain economy. As Base continues to evolve, it is poised to play a crucial role in the future of decentralized finance and blockchain technology.