June 29 (Cointime) - Coinbase has announced that its Ethereum layer-2 network, Base, has undergone extensive security testing ahead of its mainnet launch. Over 100 security researchers participated in an audit contest, examining various parts of the network's architecture for vulnerabilities.

No significant flaws were found, and Coinbase is now working to address minor issues brought to light during the contest. Base is being developed in collaboration with Optimism and is expected to launch in 2023, offering a cheaper and more efficient way to process transactions on the Ethereum network.