Coinbase's Move to Open Source Smart Contracts for Layer-2 Blockchain Base: What's Behind It?

Coinbase's layer-2 blockchain Base makes a significant move by open-sourcing its smart contract code. The platform has rapidly risen to become the third-largest in the layer-2 ecosystem

This decision aims to boost transparency, accountability, and collaboration

Open sourcing encourages developers to access the platform's knowledge base and enhance existing features

It also provides a platform for community feedback, ensuring smoother documentation and bug spotting

Base's smart contract repos and deployment artifacts are now available on GitHub. It's a commitment to transparency, especially in the key management process

Base has quickly risen to become the third-largest layer-2 ecosystem with a TVL of $549 million, flipping several other L2 protocols. However, it faces competition from giants like Arbitrum One and Optimism.