A significant change is set to make the network more open and secure. The testnet’s withdrawal process will undergo major changes with the implementation. This major step towards decentralization will be taken by Base in mid-July with the introduction of fault proofs on the Sepolia testnet. This important advancement guarantees the integrity of transactions, seeking to improve the network’s security and dependability. It is crucial to understand the implications of this development as Base continues to evolve.
Decentralizing Layer 2 (L2) networks necessitates fault proofs, which are scheduled to be released on the Sepolia testnet in the middle of July. By eliminating the need for centralized authority, this move will enable anyone to make and counter assertions about the status of the L2. The network will become more open and secure as a result of this major change.
The testnet’s withdrawal process will undergo significant changes with the implementation of fault proofs. Previously quick, withdrawals now take at least a week to complete. This extended timeline is necessary due to the new proving and finishing procedure. Additionally, the system will begin suggesting output root claims using the “DisputeGameFactory” rather than the “L2OutputOracle.”
Users making withdrawals should take note of the time. Instant processing will still be applied to withdrawals initiated prior to the mid-July upgrade. However, the new minimum wait period of seven days will apply to withdrawals initiated during or after the upgrade. In the event of a withdrawal occurring concurrently with the upgrade, resubmission of the request is required.
In 2024, Coinbase’s Base has seen a significant increase in transaction fees and volumes due to the high number of projects listed on the platform. A few months ago, Base also experienced network congestion due to the huge demand for its Layer 2 network.
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