Base testnet a Ethereum Layer-2 network has revealed that its Goerli testnet would undergo first hard fork i.e, “Regolith hardfork” update on April 27th.
Base is a Ethereum Layer 2 network offering a secure, low-cost, developer-friendly built to bring the decentralized apps or “dapps” onchain. Base aims to be one of the best places for developers to build onchain.
🔀 First hardfork coming up on Base testnet: April 27 at 10a PT 🧵— Base (@BuildOnBase) April 24, 2023
On February 23 2023, Coinbase launched the Base Network testnet, and is developing it for mainnet implementation as Layer 2 of Ethereum. They envision it as a bridge that connects other L2 and other L1 ecosystems such as Bitcoin (BTC), Solana (SOL), and Cosmos (ATOM).
Base uses a technique called “optimistic rollup”. This technique assumes that all transactions are correct and will take action if fraud is detected. It is built using open source technology provided by Optimism.
This is the testnet’s first hard fork. To keep in sync, nodes must be updated to node v0.1.1. The upgrade has no impact on users who are not running nodes.
On March 17, the update came after the Optimism Regolith hardfork upgrade, and it is triggered by making timestamp based configuration modifications to the OP Stack’s rollup nodes and execution engines.
“Regolith hardfork” works on the nodes that use rollup technology to process transactions and execution engines that are in charge of executing smart contracts and transactions, with configuration modifications triggered at certain periods. Base visions to become more secure and dependable platform as a result of this.
Recently Coinbase has sued the SEC, expecting to prompt the securities to provide regulatory clarity for the crypto industry.
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