Coinbase Open Sources Layer 2 Network Base Code as TVL Dips: A New Era of Transparency?

In a recent move towards greater transparency and collaboration, the Base network has decided to open source its code repositories and smart contracts, reinforcing its commitment to a decentralized future. This news comes amidst reports indicating dips in Total Value Locked (TVL) within the Base ecosystem, sparking questions about the timing and impact of this decision.

Coinbase-incubated Base has open-sourced its code repositories. The move aims to foster greater transparency and collaboration on the Ethereum Layer 2 network. The Layer 2 network has now open-sourced its code, making all of its smart contracts and scripts available on GitHub. Posted Octo at 2:47 am EST. Base, a key player in the Layer 2 scaling solutions, is now inviting developers worldwide to contribute and scrutinize its underlying infrastructure.

In a recent blog post, Base announced its decision to grant developers complete access to the network’s codebase. The primary motivation behind this open-sourcing initiative is to offer greater insight into Base's operations and encourage community-driven development. This allows for increased auditing, bug fixes, and feature enhancements, potentially leading to a more robust and secure network. Will this open-source approach revitalize the TVL and attract more users to the Base network? Only time will tell.