Base, a Layer 2 network backed by Coinbase, announced its achievement of Stage 1 decentralization, raising interest in a potential token launch.
The Centralization Mess in Ethereum L2s
Ethereum Layer 2 solutions like Base, Optimism, and Arbitrum are designed to optimize Ethereum by moving transactions off the main chain. However, most are significantly centralized. According to L2Beat, only a few platforms have moved beyond Stage 0, where a single sequencer controls everything.
The Importance of Decentralization for Blockchains
Decentralization is a fundamental concept of blockchain, preventing manipulation of transactions. Shifting to decentralized models reduces risks such as censorship and hacks, making platforms more attractive to developers.
Rumors About the Base Token
According to community sentiment, further decentralization of Base could lead to the creation of a native token. This could simplify network governance and attract more participants by providing token rewards for transaction processing.
Achieving Stage 1 decentralization for the Base network is a significant step forward in the industry, opening up new opportunities for developers and users.
