Base L2 is Coinbase’s layer-2 built on Ethereum that combines some centralized operational features for better UX while anchoring security to Ethereum’s decentralized base layer. Vitalik Buterin says Base is “doing things the right way,” and its non‑custodial design protects users from on‑chain rug pulls.
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Base L2 uses Ethereum for settlement and security, while optimizing UX via centralized governance where needed.
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Current total value locked (TVL) on Base is roughly $15 billion, with peaks above $16 billion earlier in the year.
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Security metrics tracked by projects such as L2Beat indicate concrete protections that reduce custodial risk for users.
Base L2 news: Vitalik endorses Coinbase Base as secure and UX-focused — read how this affects users and L2 security. Learn more now.
What is Base L2 and why does Vitalik Buterin say it’s “doing things the right way”?
Base L2 is a layer‑2 network incubated by Coinbase that batches transactions off Ethereum to reduce cost and increase speed while settling security-critical data on Ethereum. Vitalik Buterin praised Base’s approach for using centralized tooling to improve user experience without replacing Ethereum’s decentralized security guarantees.
How does Base L2 balance centralization and security?
Base leverages operational centralization for faster UX — for example, account recovery flows and admin tools — while relying on Ethereum as the final settlement layer. L2Beat metrics and public audits show concrete properties such as fraud‑proofing and data availability that protect users from being permanently deprived of funds.
| Network | Current TVL (approx.) | Notes |
|---|---|---|
| Base (Coinbase) | $15 billion | Peaked above $16B earlier in the year; built on OP Stack. |
| Arbitrum | TVL varies; prominent Ethereum L2 | Widely used rollup with independent sequencer models. |
| Optimism | TVL varies; OP Stack origin | OP Stack is the open‑source framework used by Base. |
Why do critics call Base centralized and is that a real custody risk?
Critics highlight Base’s incubation by a centralized exchange and administrative keys held by a security council. However, Vitalik and others argue that being incubated does not equal custodial control. Non‑custodial L2s publish their fraud‑proof mechanisms and settle on Ethereum, meaning the L1 enforces final state when protocols are correctly designed.
Frequently Asked Questions
Does Base have custody over user funds?
Base does not custodially control user funds in normal operation. Its contracts and rollup settlement model are designed so final state is verified on Ethereum, reducing the risk of permanent loss due to centralized control.
What role did the OP Stack play in Base’s development?
Base was built on the OP Stack, the open‑source framework developed for Optimism. The OP Stack provides modular components for rollup execution and settlement, accelerating development without changing Ethereum’s role as the root of security.
Key Takeaways
- Base L2 is non‑custodial: Designed to settle on Ethereum and protect users via fraud proofs and transparent settlement rules.
- Centralization for UX: Base uses centralized operational features to improve onboarding and experience while keeping final security on Ethereum.
- Independent metrics matter: Projects such as L2Beat provide measurable properties (security, throughput, users) that help evaluate L2 trustworthiness.
Conclusion
Vitalik Buterin’s endorsement of Base underscores a pragmatic view: L2s can use centralized tools to improve UX while remaining extensions of Ethereum’s secure base layer. Users and developers should monitor security metrics, governance transparency, and published audits to make informed choices about Layer‑2 usage.
Published by COINOTAG — 2025‑09‑23. Updated: 2025‑09‑23.
