Base's Beryl update will activate on June 25, introducing the B20 token standard and enhancing transaction speeds.
Base, the layer 2 network, has revealed its plans for the Beryl update, set to go live on the mainnet on June 25.
The testnet is currently operational.
A significant feature of this update is the introduction of the B20 standard, which integrates smart contract logic directly into the node's code. This innovation aims to facilitate the creation of tokens that are both faster and more cost-effective.
The B20 standard is designed to be fully compatible with ERC-20, ensuring that new tokens will work seamlessly with existing wallets and exchanges. Developers will initially have access to two templates: one for stablecoins and another for standard assets.
Looking ahead, this standard will enable transaction fees to be paid in the tokens themselves, eliminating the need for ETH, and is projected to double the network's transaction capacity.
Additionally, the update will shorten the asset withdrawal time from Base to Ethereum, reducing it from seven days to five through the implementation of a Multiproofs system.
On the technical side, the upgrade will include Reth V2, which is expected to alleviate storage demands on nodes and enhance block processing speeds.
Base's next significant update, Cobalt, is anticipated in September and will introduce native account abstraction. Furthermore, in May, Base announced its integration of ZK proofs from Succinct Labs to bolster security and expedite transaction finalization.
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