Coinbase’s Base Network Reaches ‘Stage 1’ Rollup Status

Base, the layer-2 network from Coinbase, has achieved “stage 1” rollup status, marking a step towards decentralization.

Base will establish a security council with ten independent entities to oversee network upgrades.
Fault proofs on Base are now permissionless, allowing anyone to verify transaction states without central authority.
This transition aligns with Ethereum co-founder Vitalik Buterin's framework, categorizing platforms by decentralization levels.
Base, launched in August 2022, is now the largest rollup with $11.72 billion locked in its protocol.
The move reduces reliance on Coinbase for operational security.