30s Summary

Blockchain Base, supported by Coinbase and Ethereum, is set to unveil a self-contained error-detection system named ‘fault proofs’. The system will validate transaction accuracy for users and flag suspicious withdrawals. Its rollout will remarkably take half the time of a similar system, ‘Optimism’. Once implemented, the withdrawal process might take seven days, with any issues potentially prolonging the period. Upon the upgrade, any pending withdrawals will require reconfirmation. All fault-proof contract upgrades will be executed in one transaction.

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Base, a blockchain built on Ethereum and kickstarted by Coinbase, is about to become even more self-contained with the roll out of a new error-detection system.

Base’s users got the good news on Oct. 23 that the brand new system, called fault proofs, is all set to make its prime-time debut. These error catchers are designed to spot the accuracy of a transaction, for example, by confirming legitimate withdrawals.

With the launch of fault proofs on Base going live on Oct. 30, users will have the power to keep an eye on and challenge any dodgy withdrawals. This means there’s no need for any external help, Base announced.

Talking about speed, Base is launching fault proofs in double-quick time compared to Optimism, another L2 Ethereum. Optimism has been deep in the error detection tech development and to ensure the smooth launch of its system, Base has been teaming up with them closely.

Optimism kicked off fault proofs on their testnet back in October 2023, followed by unleashing it onto the mainnet in June 2024. That’s half a year to get from testnet to mainnet. But Base is expected to complete the transition in half the time, as it launched fault proofs on its own testnet in July 2024.

With error detection armed and ready, users can move their assets from L2s such as Base or Optimism back to the original Ethereum blockchain without having to depend on a centralized figure. But this nifty new feature does mean there are some changes to how withdrawals are done.

So what does this mean for Base withdrawals? Once the new system is in place on the mainnet, the process of withdrawal will involve proof and finalization using the new tech.

Withdrawals made before the upgrade will sit for a seven-day challenge period until they’re approved, whereas those made during or after the upgrade will be confirmed by the new system. Usually, this process will take about seven days, but it could be a bit longer if any issues are flagged.

And according to a post on X by Base, any withdrawals hanging in the balance when the upgrade happens will need to be reconfirmed.

Also, fault-proof contract upgrades will all be done in one go, meaning each affected L1 contract will be modernized in one transaction. Base reassured its users that they won’t need to do anything.

Source: Cointelegraph