Base Completes Cobalt Mainnet Upgrade with Conditional Transactions and B20 Features
Base, a layer-2 blockchain built on top of Ethereum, has undergone its third mainnet upgrade, dubbed 'Cobalt'. This upgrade brings several key features, including conditional reserved transactions and B20 asset features.
The conditional reserved transactions allow users to submit transactions in advance, which will only be executed when certain conditions are met. This includes setting an expiry period for each transaction.
The B20 standard introduces composite policies, enabling rules like know-your-customer (KYC) allowlists and sanctions blocklists to be applied together using 'AND' or 'OR' conditions.
Additionally, the upgrade includes a function to schedule and adjust changes in how asset balances are displayed, such as for a stock split. It also enables asset seizure, allowing administrators to move a holder's balance to another address, with the source, recipient, amount, and memo recorded on the blockchain.
Base plans to further improve its performance, aiming to cut block production time from 2 seconds to 200 milliseconds within the next few months. The network also plans to add protocol-level default support for smart accounts, gas sponsorship, and bundled processing of multiple transactions.
The Cobalt upgrade marks a significant step in Base's development, enhancing its functionality and usability for users and developers alike.