Okay, fam, let's talk about Base. Again. You know, Coinbase’s cute and cuddly layer-2 that everyone and their grandma just fell in love with? Remember when it launched? The gas wars? The hype? Now they've hit "Stage 1." Cue the confetti, right? Suddenly everyone’s yelling about decentralization, security councils and permissionless fault proofs. But I gotta ask: Is this real progress, or just another crypto illusion, carefully crafted for the masses?
Security Council: Discord Mods 2.0?
Let's be brutally honest. This “security council” of ten “non-aligned actors”… … this smells a lot like a committee of supercharged Discord mods. They “approve network upgrades”? Seriously? Who approved them? Are they really independent, or simply Coinbase’s chosen friends? I’m not arguing that’s terrible, just that we shouldn’t act like this is a radical new act of decentralization. It's a step, sure. But a baby step. A cute, wobbly baby step. Anyone else miss the days when DAOs were supposed to fix everything for us? How'd that turn out? Nonetheless, I can’t help but feel the anxiety and fear start to transform my sense of hope. We've been burned before.
And these "permissionless fault proofs"? Sounds great on paper. Anyone can verify transaction states! Transparency! Security! But who's actually going to do that? Your average NFT degen? I doubt it. The sad truth is, most people are just too busy chasing the next pump to even try and take the time to verify. That would be a bit like saying anybody gets to audit the Fed. Technically true, practically impossible. The novelty is certainly present, but is there true utility?
Memes, Dreams, and Decentralization Theater
We, the NFT Community, are especially prone to being duped by this type of PR. All of us are yearning for lower gas fees and quicker transaction times. We’re that desperate, so desperate we’re willing to grasp at even the most threadbare straw of hope at betterment! Base officially launched on the Ethereum mainnet in August of 2022 and currently has $11.72 billion locked into the protocol, per L2Beat. That's insane growth. But in doing so, are we trading true decentralization in exchange for speed and convenience? Or are we just replacing one centralized overlord (Coinbase) with another, marginally less centralized one?
Think of it like this: it's like switching from McDonald's to Burger King. Okay, maybe your burgers are bragging about being juicy or gargantuan, but guess what— you’re still in a fast food joint. You're still contributing to the system. Is this really how we want to signal our values, or simply our appetite for the next shiny object?
Oh, and don’t forget Vitalik Buterin’s arbitrary endorsement threshold. Only to the L2s that have gotten past at least Stage 1? Well, duh. That’s similar to a cook saying he will only dine at restaurants that have a B health rating or better. It's the bare minimum. It's not exactly a ringing endorsement. It's just damage control. It would indeed be surprising to believe that this policy change is necessary for building legitimacy and enhancing security.
Base: Wen Decentralization? Wen Lambo?
Tom Vieira, head of product at Base, provided CoinDesk with the details. Margaux Nijkerk reported on it. Cool. Good journalism. Let’s not treat this as gospel. This is the controlled narrative. This is the official story. What's the unofficial story? What are the potential downsides? What are the hidden agendas?
I'm not convinced. I'm not saying Base is a scam. And I’m not saying we shouldn’t build transit, either—I’m just saying let’s not get carried away. Please don’t let anyone make you believe that achieving the so-called “Stage 1” is anything close to a tectonic revolution. It's a step. Maybe. But it’s certainly a step in a long, long journey.
Base Stage 1: Wen Decentralization? Or Wen Lambo? Because, quite frankly, neither can I most days. Use this as an opportunity to be smart, independent-minded, and wary of the hype. I want more than anything for this to inspire awe and wonder, and failing that—surprise and curiosity.
Think about it.
