Base Cobalt Upgrade Brings New Features to Ethereum Layer 2 Network

Base, the Ethereum Layer 2 network, has successfully upgraded its Cobalt protocol to version 3. This upgrade brings several new features and improvements to the network, making it more efficient and secure.

One of the key features of the Cobalt upgrade is the introduction of Validity Transactions, which allow users to set conditions and deadlines for transactions. This means that users can now require a swap's pool price to reach a minimum USDC value before a chosen block, and Base will only include qualifying transactions.

Another important feature of the upgrade is the expansion of transfer policies through Composite Policies. This allows issuers to combine existing approval and restriction lists using AND or OR rules, making it easier to manage complex policies.

The upgrade also includes improvements to the B20 protocol, which allows issuers to schedule changes to displayed balances, including stock splits. This aligns B20's balance multiplier with the ERC-8056 token standard, and existing Beryl integrations continue to work.

In the coming months, Base plans to cut block times from two seconds to 200 milliseconds, introduce native smart accounts, and adopt selected Ethereum Glamsterdam improvements.