Base Unveils Cobalt Upgrade with Conditional Transactions and Enhanced Token Standard
Base, an Ethereum Layer 2 protocol incubated by Coinbase (COIN), has launched its third mainnet upgrade, Cobalt. This upgrade introduces new features designed to give traders greater control over their transactions and adds functionality to Base's B20 token standard.
The most significant addition is Validity Transactions, which enable users to submit time-bound transactions that remain dormant until certain conditions are met. For example, a trader could submit a swap that only becomes eligible if the pool price reaches at least a certain USDC value before a certain block.
Base also enhanced its B20 token standard with Composite Policies, Schedule Multiplier Updates, and a 'seizeWithMemo' function for authorized administrators to reassign a holder's balance where seizure has been enabled.
In the coming months, Base plans to reduce block times from 2 seconds to 200 milliseconds and support a subset of EVM improvements from Ethereum's Glamsterdam upgrade.