Recently, a proposal was released and accepted to migrate $ZEN and EON to Base, and I’d like to share my personal perspective on what this means for our developer community and Web3 founders. This migration isn’t just a change of infrastructure; it’s a strategic move that can power up our decentralized applications and open new opportunities in a rapidly evolving ecosystem.
Why Base?
Base is a Layer 2 (L2) solution built on Ethereum, designed to provide secure, low-cost, and lightning-fast transactions. What truly makes Base stand out is its ability to function as a platform for appchains—dedicated Layer 3 (L3) blockchains that inherit Base’s security and liquidity while allowing for project-specific customizations.
Benefits for Developers
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Scalability and Performance:
Base leverages Optimism’s OP Stack to achieve up to 250 Mgas/s with transaction finality in less than a second. This represents a huge leap forward, enabling us to build applications that scale massively without compromising speed or user experience.
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Cost Reduction:
With transaction fees dropping to under 1 cent, Base makes it possible to experiment with innovative ideas and business models that were previously held back by high fees on other platforms.
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Seamless Integration with Ethereum:
Native integration with Ethereum means immediate access to a wide range of DeFi protocols, dApps, and wallets. This not only speeds up development but also enhances interoperability between projects.
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Flexibility for Innovation:
Base opens up opportunities to experiment with new data structures, tokenomics, and virtual machines. This flexibility allows us to implement truly custom and disruptive solutions in the blockchain space.
Benefits for Web3 Founders
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Access to a Growing Ecosystem:
Migrating to Base positions projects in a vibrant, expanding ecosystem. The rapid growth in Total Value Locked (TVL) on Base translates into higher visibility and increased user engagement, which is vital for any startup in the Web3 space.
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Institutional-Grade Security and Compliance:
Backed by Coinbase, Base meets enterprise-level security standards and regulatory requirements. This not only builds trust with institutional investors and users but also lowers entry barriers for mainstream adoption.
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Interoperability and Reduced Risks:
As an appchain, Base allows projects to leverage its established security and liquidity without needing to build a standalone blockchain. This reduces both development costs and risks, making it a more resilient and attractive option for founders.
Migration Process
Here’s a quick rundown of the migration process for $ZEN and EON:
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Appchain Deployment on Base:
$ZEN and EON will be deployed as a Layer 3 solution on Base. This allows us to harness Base’s scalable and efficient infrastructure without losing the unique features of Horizen.
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Account and Contract Transition:
User balances will be transferred while current smart contracts will be gracefully phased out. A snapshot will be taken to ensure a smooth and seamless migration for all users.
It is worth noting that this will NOT result in a loss of assets, such as NFTs and other tokens.
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Consensus and Governance:
The migration will utilize Base’s Optimistic Rollup architecture for consensus, while Horizen will continue to manage application-layer governance and staking mechanisms. This ensures we maintain strategic control while benefiting from Base’s robust infrastructure.
Technical Stack and What to Learn
One of the most exciting aspects of this migration is exploring Base’s technical stack. Here’s what you need to know:
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Smart Contract Language:
Base smart contracts are primarily written in Solidity, the same language used across the Ethereum ecosystem. If you’re not familiar with Solidity, now is the perfect time to start learning—it’s essential for building on Ethereum and its Layer 2 solutions.
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Development Tools:
Popular frameworks like Hardhat and Truffle are key for deploying and testing Solidity contracts. Familiarizing yourself with these tools can help you hit the ground running on Base.
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Understanding the OP Stack:
Base leverages Optimism’s OP Stack, so getting to know the basics of rollup technology and how optimistic rollups work will give you a strong foundation in building scalable applications on Base.
I’m also diving deeper into Base myself, exploring its features and potential. I encourage you all to join me on this learning journey—there’s so much to explore, and together we can push the boundaries of what’s possible in the blockchain space.