crypto exchangeCoinbase Announces Five Base Neutrality Principles

Coinbase Announces Five Base Neutrality Principles

Coinbase has published an article announcing the top five Base neutrality principles. They are as follows.

1: Law of Chains.

Coinbase is committed to upholding the Law of Chains as the primary Base neutrality principle. The Law establishes a common set of standards for all OP Stack blockchains and ensures that both builders and users have access to Base’s neutral and open block space. As the second core developer of the OP Stack, the Base team worked closely with Optimism to define the first draft of the law and will continue to work closely with the Optimism Collective to refine this principle as we receive community feedback.

2: Your keys, your cryptocurrency.

Coinbase does not hold or control the cryptocurrencies that users bring onto the Base network. As with the main Ether network, owning crypto assets depends on holding a valid private key. Users (not Coinbase) are responsible for their behavior on the network.

3: Transaction ordering is a free market.

Coinbase does not influence, discriminate, or prioritize the order in which transactions occur on Base. Like the post office, the Base network delivers messages based solely on the time of receipt and optional prioritization fees set by the user. no Coinbase product, customer, or partner is granted special rights to jump the queue.

4: Equal Access to Information.

Coinbase will not misuse any non-public information collected from Base. Private transaction data (including any insights gained by the Base team through manipulation of the sequencer, such as transaction ordering) is not used for marketing or any other commercial purposes.Coinbase and its partners will rely on the same publicly available data as everyone else.

5: Free Withdrawal.

Coinbase does not impose restrictions on withdrawals from Base. Users who are dissatisfied with Base are free to withdraw their assets without penalty.Coinbase does not use withdrawal barriers to uphold any substandard experience or policies.

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Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

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