Ethereum steps up its game while DeFi hacks strike again

In this edition of Risk Bytes, we’re taking a look at a couple of key developments for the Ethereum ecosystem, as well as an examination of the Euler hack and Oasis’ counter hack and their possible implications for the space. The EIP-4337 contract standard made a big impression at ETH Denver, so we’re looking under the hood to see how it works. We’ll also be talking about Coinbase’s Base chain, a layer 2 network for ETH that could help aid the development of EVM protocols and applications.

New Base of operations: Coinbase Ethereum L2

Coinbase has revealed plans to introduce Base — its own Layer 2 (L2) on Ethereum. It is worth noting that an L2 blockchain simplifies and reduces the cost of creating and implementing dApps. With Ethereum at the forefront of L1s, L2s such as Arbitrum and Optimism have emerged as frontrunners.

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