Coinbase is the open source code base for the Lab-2 network

Coinbase announced that it is open-sourcing its code repositories and smart contracts simultaneously allowing public contributions to the project to increase transparency and accountability.

In a blog post on October 19th, Base announced that starting today, developers will be given full access to the network's code base.

One of Base's core values ​​is building on open space.

We believe this is the foundation for building an onchain ecosystem, creating accountability and enabling collaboration.

In this spirit, we've open sourced our smart contract and GitHub repos https://t.co/UOgGpNXyFL

— Base️ (@BuildOnBase) October 19, 2023

“By openly sharing our work, we can ensure the community can follow our progress and live up to our promises.”

“Open source is a win-win for our future. Developers have access to a wealth of knowledge, improve what's already been done, and in turn inspire others in the space,” added Baez.

Central to the decision to open source the code was the goal of providing developers with transparency into the project's progress. Base, all of its smart contracts and scripts, are now publicly available on GitHub.

This means that developers are now able to review and test the code responsible for deposits and withdrawals on Base, providing increased tools for developers looking to drive similar functionality.

Open source development is an integral part of the crypto ethos. By making code public, any part of the public can audit the code, allowing hypothetical vulnerabilities and potential exploits to be identified and patched much faster than if they were kept in-house.

It's worth noting that open source code also means that malicious actors can identify vulnerabilities and exploit them before another well-respected developer gets a chance to point them out.

In light of this threat, Coinbase encouraged “security-minded” developers to release Layer-2 code and closely monitor any vulnerabilities, offering up to $1 million in rewards for finding bugs.

Related: Coinbase chooses Ireland as European crypto hub

In addition to making its data repositories and smart contracts open, Base has also made its web properties open, including base.org, docs.base.org, and bridge.base.org.

Base is one of the most active layer-2 networks in the crypto ecosystem, with a major wave of activity led by the rise of Freden.tech, a decentralized social finance application built on the network.

On September 21, Coinbase legal counsel Paul Grewal raised eyebrows when he told Decrypt that Coinbase had “not completely scrapped” the idea of ​​issuing a native token for the Lab-2 network.

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