Base, a Layer 2 network designed by Coinbase, has rolled out a new monitoring system called Pessimism which can help in enhancing security systems across blockchains powered by Optimism. The open-source security monitoring tool strives to spot protocol threats and vulnerabilities specific to the OP stack and other Ethereum Virtual Machine-friendly blockchains.
Pessimism is made up of three primary subsystems: the extract, transform, load (ETL) subsystem, risk engine, and alerting. The three subsystems together are able to parse, analyze, and identify potential security concerns. According to reports, Coinbase is also working on expanding Pessimism’s capabilities for bridge monitoring, boosting features like withdrawal safety and flagging security threats.
Pessimism has also invited developers to pitch in with their suggestions or flag issues on its GitHub page. The move comes after Coinbase shared its plans to fully decentralize Base in the near future. The decision is aimed at boosting the network’s decentralization by introducing fault proofs and maintaining censorship resistance by leveraging client software.
Base was publically launched in August this year and within just a month it became the third-largest Layer 2 network on Ethereum after Arbitrum and Optimism.
About Base:
Base is a Layer 2 blockchain that has been designed to make Ethereum and its features more accessible to everyone. It’s a developer-friendly platform where developers can seamlessly deploy the EVM codebase to on-ramp their dApps on interoperable chains like Coinbase and Ethereum Layer 1. The network’s USPs include scalability, security, and flexibility.
What’s impressed a lot of experts is its cost-effectiveness. One can get early access to Account Abstraction and other features of Ethereum, APIs for gasless transactions, and smart contract wallets at a fraction of their usual cost. Not only is Base an open-source network but is powered by Optimism’s OP stack. The Base team is part of UP Stack’s second core development team and ensures that its code architecture is available to everyone. With base, developers can easily leverage Coinbase’s products for their dApps. The products and integrations that are available for Base users include seamless integrations and fiat onramps.
An important reason that’s boosting its popularity is that it has been rolled out by Coinbase, one of the most trusted decentralized exchanges in the world. Crypto users across the globe consider it a trustworthy source for updates on live cryptocurrency prices and gains made by the Top 10 cryptocurrencies.
Disclaimer: This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
