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In mid-July, Base is set to introduce fault proofs on the Sepolia testnet, marking a significant milestone in its journey towards decentralization. This crucial development aims to enhance the network’s security and reliability by ensuring the integrity of transactions. As Base continues to evolve, understanding the implications of this advancement is essential. Here’s everything you need to know about this pivotal update.
Base Sepolia Testnet and Fault Proofs
Fault proofs are a crucial step towards decentralizing Layer 2 (L2) networks. They’re set to launch on Base Sepolia, the testnet, in mid-July. This change will allow anyone to propose and challenge claims about the L2’s state, reducing reliance on central authorities. It’s a big shift that’ll make the network more open and secure.
The introduction of fault proofs will significantly alter how withdrawals work on the testnet. Instead of being instant, they’ll now take at least seven days to complete. This longer timeframe is necessary for the new proving and finalizing process. The system will also switch from using the “L2OutputOracle” to the “DisputeGameFactory” for proposing output root claims.
For users currently withdrawing funds, it’s important to note the timing. Withdrawals initiated before the mid-July upgrade will still be processed instantly. However, any withdrawals started during or after the upgrade will be subject to the new seven-day minimum wait time. If a withdrawal happens to coincide with the upgrade, users will need to resubmit their request.
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Base Growth and Preparations for Teams on Base Sepolia
Coinbase’s Base has witnessed strong growth in transaction volumes and fees amid a large number of project listings happening on the platform this year in 2024. The demand for this Layer 2 network is so high that Base also faced a situation of network congestion a few months ago.
However, this surge in the gas fee has led to strong earnings for Coinbase. Coinbase’s Layer 2 network, Base, has seen increasing numbers as its total value locked (TVL) hit an all-time high. At press time, Base TVL stands above $1.58 billion.
Teams operating bridges on Base Sepolia need to take several steps to prepare. They should update their user interfaces to inform users about the upcoming changes, especially the new withdrawal timeframe. It’s also crucial that they review and update their bridging logic to work with the new L1 contracts. The upgrade itself will be done in a single transaction, requiring no action from node operators.
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