On April 19th, Defender-Supported Ethereum Layer 2 Network BASE by OpenZeppelin

On April 19th, according to official sources, the security agency OpenZeppelin announced that its smart contract automation platform Defender has supported the Ethereum Layer 2 network BASE.

Security Agency OpenZeppelin Announces Support for Ethereum Layer 2 Network BASE

In the world of blockchain technology, the security and stability of smart contracts are critical concerns. The smart contract automation platform Defender by OpenZeppelin is at the forefront of ensuring that smart contracts remain secure and stable. On April 19th, 2021, OpenZeppelin announced that Defender has now added support for the Ethereum Layer 2 network BASE. In this article, we will explore the significance of this announcement and what it means for the blockchain industry.

What is OpenZeppelin?

OpenZeppelin is a blockchain technology company that specializes in creating smart contract libraries. Their libraries provide a framework for building secure and reliable smart contracts by offering a set of tested and audited functions. By using OpenZeppelin’s smart contract libraries, developers can be sure that their contracts are both secure and efficient.

What is Defender?

Defender is OpenZeppelin’s smart contract automation platform. It provides developers with a suite of tools designed to assist them in managing and automating their smart contracts. Defender supports a wide range of blockchain networks, including Ethereum, Binance Smart Chain, and xDAI. With Defender, developers can automate their smart contract workflows, schedule transactions, and manage their contracts more efficiently.

What is Ethereum Layer 2 network BASE?

Ethereum Layer 2 is the name given to a collection of scaling solutions built on top of the Ethereum blockchain. These solutions aim to reduce congestion on the Ethereum network and increase its capacity. One of the solutions on the Ethereum Layer 2 network is BASE, which stands for Binance Smart Chain Atomic Swap Environment. BASE is a decentralized exchange platform that allows users to swap tokens without needing a central authority.

The Significance of Defender Supporting BASE

The addition of BASE to Defender’s suite of supported blockchain networks is a significant development for several reasons. Firstly, it shows OpenZeppelin’s commitment to expanding the range of blockchain networks that their platform supports. This will be beneficial to developers who require the flexibility to work across multiple networks.
Secondly, it highlights the importance of Ethereum Layer 2 in the growth and development of the blockchain industry. By supporting BASE and other Ethereum Layer 2 solutions, Defender is contributing to the expansion of this critical infrastructure in the blockchain ecosystem.
Lastly, it emphasizes the importance of smart contract automation platforms in the blockchain industry. With more and more businesses and individuals incorporating blockchain technology into their operations and investments, the need for reliable and efficient smart contract automation platforms continues to grow.

Conclusion

The announcement of Defender’s support for the Ethereum Layer 2 network BASE is a significant development in the blockchain industry. OpenZeppelin’s commitment to expanding the range of blockchain networks that their platform supports highlights the importance of flexibility and scalability in blockchain technology. Furthermore, Defender’s support for BASE and other Layer 2 solutions underscores the importance of this critical infrastructure in the development of the blockchain ecosystem. As the blockchain industry continues to grow, reliable and efficient smart contract automation platforms like Defender will be essential.

FAQs

Q1. What is smart contract automation?
A1. Smart contract automation refers to the process of using software to manage and perform tasks related to smart contracts. Automation can improve the efficiency and reliability of smart contract workflows.
Q2. What are the benefits of Ethereum Layer 2?
A2. Ethereum Layer 2 offers several benefits, including reduced transaction fees, increased scalability, and faster transaction times. These benefits are critical in supporting the growth of the blockchain industry.
Q3. What is the role of smart contract automation platforms in the blockchain industry?
A3. Smart contract automation platforms like Defender are essential in the blockchain industry as they provide developers with tools to manage and automate their smart contracts. These platforms improve the efficiency and reliability of smart contract workflows, contributing to the growth and development of the industry.