Base Releases 2024 Roadmap

Quick Take

• Base 2024 mission and roadmap.
• Polygon introduces Verify.
• SEC false Bitcoin ETF approval post.
• OpenSea releases an integrated wallet.

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Base Releases 2024 Roadmap

Base, the L2 network by Coinbase, released its 2024 roadmap for building a global onchain economy that fosters innovation, creativity, and freedom. The new economy is structured around three pillars: a robust developer platform, a diverse app ecosystem, and a deep, interconnected capital market, all anchored to Base. The roadmap includes a strong focus on decentralization and scalability. Key initiatives involve advancing Base towards a Stage 1 rollup by implementing fault proofs, exploring alternative fault proof implements, and reducing transaction fees. Base also aims to enhance the onchain user experience amd expand the adoption of ERC-4337. Base also plans to expand grant programs for builders.

Polygon Introduces Verify Protocol

Polygon introduced Verify, a new open-source media provenance protocol developed by Fox Corporation. Currently in beta and built on the Polygon PoS, Verify is designed to help media companies authenticate the history and origin of their content, including images, audio, and text by allowing publishers to register their content. Content registered on Verify is cryptographically signed onchain, which allows consumers to easily identify content from verified sources using the Verify Tool. Verify aims to address provenance issues related to AI-generated media. Verify also allows media companies to grant usage rights for their content to AI platforms.

SEC’s X Account Was Compromised

A compromise of the SEC's X account led to significant market volatility following a false announcement of a Bitcoin ETF approval. The post triggered a sharp increase in Bitcoin's price, soaring to approximately $47,680. However, Bitcoin plummeted back to around $46,000 once it was revealed that the announcement was false. SEC Chair Gary Gensler responded by clarifying that the SEC's X account had been compromised and that no Bitcoin ETF product had been approved by the SEC. The unauthorized tweet was later removed. The price of Ethereum also experienced a surge amidst the turmoil but managed to stabilize and maintain a price above $2,300.

OpenSea Introduces Integrated Wallet

OpenSea introduced a fully integrated wallet for its NFT marketplace, enabling users to set up a self-custodial wallet using only an email address. The wallet supports the purchasing and selling of NFTs and crypto, and features a fiat-on-ramp. To onboard, users only need to verify their email and establish an authentication method. The wallet is compatible with nine EVM-based chains that are available on OpenSea. The integration is powered by Privy, an authentication tool provider for embedded wallets.

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