Coinbase’s Base has recently made a significant update by adding fault proofs to its main network, addressing a key issue in the optimistic setup. This update comes after four months of Optimism, the layer-2 blockchain Base is built on, integrating fault proofs into its system. According to Base’s blog post, fault proofs are crucial for transitioning from Stage 0 to Stage 1 of decentralization, allowing for more community participation in proposing and validating L2 state.
Fault proofs offer two main benefits for decentralization:
1. Permissionless proposals: Anyone can now validate the state of Base in a decentralized manner, eliminating the need for a central party to prove the chain’s state. This opens up the opportunity for participants to propose claims about the chain’s overall state and transaction legitimacy.
2. Permissionless challenges: In case of a faulty or fraudulent claim, participants have 3.5 days to challenge it using open-source challenger software. Successfully challenging a claim results in receiving the bonds of the invalid claim, creating an economic incentive for securing the network and fostering community-driven accountability.
This update marks a significant step towards a more decentralized approach in the crypto space, reducing reliance on centralized entities for state verification. The presence of honest challengers ensures the network’s security and integrity moving forward.
In other news, Termina, an SVM-as-a-Service platform by Nitro Labs, has successfully raised $4 million in a seed funding round. This platform aims to scale the Solana Virtual Machine infrastructure, empowering developers to create customizable Solana-based networks for improved performance and privacy. With over 20 ecosystem partners already on board, Termina is set to revolutionize the SVM landscape and provide efficient solutions for developers.
Additionally, Deep Blue, a stablecoin issuance platform, has integrated with Arbitrum, enhancing stablecoin issuance capabilities across real-world and crypto applications. This collaboration combines Deep Blue’s stablecoin issuance expertise with Arbitrum’s layer 2 scaling solution, promising innovative solutions for the industry.
Furthermore, Ika has launched as the fastest parallel MPC network on Sui, offering secure interoperable solutions across multiple chains without traditional bridging. This network aims to empower Move smart contract developers and provide institutional-grade scalability and security through innovative cryptographic techniques.
Lastly, OKX Ventures, TOP, and Folius Ventures have launched a $10 million Telegram Growth Hub to drive innovation on the TON blockchain and enhance Telegram’s mini-app ecosystem. This initiative aims to fund projects focused on user onboarding, on-chain trading features, and mini-apps for gaming and entertainment, expanding TON’s use cases and fostering growth in the ecosystem.
Overall, these developments reflect the ongoing progress and innovation in the crypto space, paving the way for a more decentralized and secure future for blockchain technology.
