Coinbase’s layer-2 network Base has stated that it has open-sourced its code repositories and smart contracts in order to promote accountability and transparency while also allowing the public to contribute to the project.
In a blog post published on October 19, Base stated, “By sharing our work openly, we enable the community to track our progress and ensure that we’re living up to our commitments.” It went on to explain that open source promotes its onchain future. Builders receive access to a variety of information, advance prior work, and inspire others in the profession.
The main purpose for open-sourcing the code is to provide developers additional insight into the project’s progress. Base has announced that all of its scripts and smart contracts are now openly available on GitHub.
Developers now have more tools at their disposal to create similar functionalities because they can now analyze and experiment with the code that handles deposits and withdrawals on Base.
Open-source development is a critical component of the crypto culture. The process of making code publicly available promotes community auditing, which may speed up the identification and remediation of vulnerabilities and potential exploits when compared to internal storage.
Given this concern, Coinbase has given a prize of up to $1 million for the discovery of bugs, encouraging “security-minded” developers to carefully analyze layer-2’s code and keep an eye out for potential vulnerabilities.
Base has made its smart contracts and repository code public. It has also made its online properties, such as base.org, docs.base.org, and bridge.base.org, public.
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