Ethereum Layer 2 scaling solution Base Network has taken a remarkable step in the development process by switching to an important stage. Coinbase -supported protocol, Stage 0 to Stage 1 to meet the criteria such as decentralization and transaction safety is expressed. The information in the press shows that the protocol is defined as Ethereum Virtual Machine (EVM) Roll-up.
Base Network
According to the data shared by L2beat, Base Network managed to establish the Security Council. The security council meets the specified threshold values and offers sufficient power to the evidence system is considered an important criterion. It is stated that the protocol should be established for a functional evidence mechanism in order to switch to Stage 1 and more than five fraud agent agent outside the core team should be included.
Base Network’s transition to Stage 1 points to the increase in competition in the field of Ethereum Layer 2. Other protocols include Arbitrum One, Op Mainnet and Unichain, while Base Network’s total locked value is reported to be about $ 11.77 billion. In addition, Base Network stands out for approximately 55 seconds.
Although Base Network is relatively young, it has achieved an important position in the sector. Compared to Arbitrum One, it is observed that it is slightly ahead in terms of total locked value. The rapid process completion time of the protocol is also considered as an indicator of technological competition.
The developing competition environment can lead to the freedom to act independently of the protocols and the principles of decentralization. This suggests that the relevant platforms may need continuously update in terms of performance criteria and security configurations.
Ethereum Development Studies
In the Ethereum ecosystem, efforts to improve the performance of the protocol are continuing. Ethereum Foundation, Vitalik Botterin and Ava Miyaguchi led by the work of Pectra upgrade and Dencun update steps are evaluated. It is stated that such innovations may positively affect Layer 2 performance.
These developments on the Ethereum network reflect the tendency to increase innovation and competition compared to other protocols in the sector.
The competitive environment and technological developments may play an important role in determining the performance criteria of solution providers in this field. Users seem to have a tendency to choose among platforms considering factors such as transaction speed, security and decentralization.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
