Base network has achieved a significant milestone by reaching the Phase One of Ethereum Rollup decentralization, as reported by COINOTAG News on April 30th. This advancement introduces a robust dispute resolution mechanism and establishes a security council, aligning with the framework proposed by Vitalik Buterin. The developers emphasized that this progress diminishes reliance on centralized entities, paving the way for a more decentralized ecosystem.
According to the Base team, the completion of Phase One marks an essential step towards fostering an open global on-chain economy. The new features, including a permissionless dispute resolution system, enable users to engage more freely, while the security council enhances the contract upgrade process. Launched in August 2023, Base has quickly evolved, leveraging the Optimism’s OP Stack and securing its position as the largest Total Value Locked (TVL) Layer 2 solution on Ethereum.
Previously classified as a Phase 0 Rollup, the network initially depended on a Coinbase-controlled centralized sequencer and lacked a fully operational dispute resolution mechanism on its mainnet. This latest development signifies a pivotal shift towards increased decentralization and user empowerment in the blockchain space.