Cashcool Deji
@cashcool
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Still on the topic of building on the global onchain economy, millions, if not billions, of users, buying assets, getting groceries, paying for movies, investing, posting content, and making a living all on onchain. It’s a vision slowly coming to life.
But then you ask, What do they mean by “We’re scaling”?
You notice how the gas fees on every transaction are averagely around a cent, and the chain operating without congestion, even with the number of people onboarded and products built daily? It’s because of the frequent Gas Target scaling.
We just hit 32.5 MGas/s a few days ago, another step towards the big bald 250 MGas/s goal for 2025.
MGas/s, million gas units per second, measures the rate of computational work processed by a network. You can compare it to GHz in CPUs and GPUs, but not exactly; you get what I mean.
Enough of the jargon, what’s the practicality behind scaling gas targets? 0 reply
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...to implement changes.
Achieving Stage 1 Decentralization guarantees a stronger onchain security and relieves trust assumptions, creating a more resilient foundation for assets, apps, and the onchain economy at large.
On the low level, Builders are given more rigidity to experiment and build with the trust that the blockchain can’t change rules abruptly.
Users can also participate in securing and verifying the network through the Fault-proof system, earning incentives for every successful challenge.
Moving onto Stage 2 Decentralization, the Base team is looking forward to implementing additional fault-proof systems, such as ZK-based fault-proof systems, and enabling the security council to detect and adjudicate bugs via the multiproof system.
We have a bright future ahead of us in the Base ecosystem, and my motto is “Stay Based, keep building, and support others.” 0 reply
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Base is for everyone.
How?
By being one of the most decentralized blockchains building on the onchain economy and enabling anyone to do the same.
Following this vision, @base just achieved Stage 1 Decentralization.
Before I define what Stage 1 Decentralization entails, what does Stage 0 Decentralization mean?
Transactions onchain are validated and screened by a single operator, the chain’s operator, making it centralized and basically on training wheels.
Stage 1 Decentralization, in simple terms, is a system in which, instead of entrusting the scoreboard of a game to a single person (Stage 0), it can be defined, fact-checked, and challenged by anyone. This system is called a Fault-proof system.
The Base team also believed that to achieve true Stage 1 Decentralization, the chain’s smart contract upgrades must go through a “Security Council,” which entails 10 independent entities.
To implement an upgrade, the agreement must reach a threshold of 75%, meaning no single entity has the authority... 2 replies
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