Ethereum founder Vitalik Buterin praised Coinbase’s Layer-2 network Base, saying it is “doing things the right way.” He highlighted how the network balances user-friendly features with Ethereum’s decentralized security.
Base L2: Growing Adoption
Launched in August 2023, Base now holds around $15 billion in assets. Earlier this year, it briefly peaked above $16 billion. The network runs on the OP Stack, an open-source framework originally developed by Optimism.
Base is part of Ethereum’s growing L2 ecosystem, alongside Arbitrum and Optimism. Layer-2 networks handle transactions off the Ethereum main chain. They batch transactions to reduce fees and increase speed before confirming them on Ethereum.
Centralization Concerns and Buterin’s Defense
Some critics worry that Base’s centralized features, such as admin keys and a security council, could allow theft of user funds. On X, CyberCapital founder Justin Bons wrote, “Base CAN instantly steal ALL user funds.”
But Buterin disagreed. He stressed that L2s are extensions of Ethereum, not custodial servers. He cited L2Beat, a platform that tracks L2 security, throughput, and active users. Buterin said Base remains non-custodial while offering better user experience.
“I feel many people misunderstand L2 security and think L2Beat is some compliance authority,” he said. “It isn’t. L2s protect users from being rugged while still relying on Ethereum’s decentralized base layer.”
Why This Matters
Base’s growth shows increasing trust in L2 networks. They combine speed, low fees, and security. By carefully managing centralized aspects while using Ethereum’s decentralized core, Base aims to provide a safe, user-friendly experience.
For Ethereum users and developers, Buterin’s endorsement reinforces the role of L2s as scalable, secure extensions of the Ethereum ecosystem.
The Bigger Picture
Layer-2 networks like Base, Arbitrum, and Optimism are crucial to scaling Ethereum. They allow higher transaction throughput at lower cost while keeping assets secure.
Debates about centralization versus security will continue as adoption grows. Buterin’s comments suggest that well-designed L2s can satisfy both user convenience and decentralized security. This balance is key to Ethereum’s long-term growth.
Resources:
https://x.com/
https://knowledgenexuses.com/
