Quick Take
Base implements Flashblocks on testnet.
Base introduces Smart Wallet Sub Accounts.
SEC dismises lawsuit against Conensys.
Holesky validators agree on slashing plan.
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Base Implements Flashblocks On Testnet
Base implemented Flashblocks on the Base Sepolia testnet, which cuts block times to 200 milliseconds, a significant enhancement from its current 2-second block time. Flashblocks is part of Flashbot's Rollup Boost software that provides sub-blocks that are streamed to nodes at 200-millisecond intervals. It provides fast confirmation times and includes native revert protection. The upgrade will position Base as the fastest EVM-compatible chain, surpassing Solana's speed. Developers can start experimenting with Flashblocks by integrating them via the Base Sepolia Flashblocks RPC endpoint. Uniswap is also adopting Flashblocks to achieve 250-millisecond block times on Unichain. Base plans to implement Flashblocks on Base mainnet in Q2 2025.
Base Smart Wallet Sub Accounts
Base also introduced Smart Wallet Sub Accounts as part of recent updates aimed at optimizing performance and usability. The feature, incorporated into the Coinbase Smart Wallet, is designed to minimize the complexity of handling multiple accounts and approvals by providing unified account management. Sub accounts simplify the user experience by reducing the number of wallet pop-ups. They feature hierarchical account ownership and customizable spending permissions across applications. Sub accounts are currently live for testing on the Base Sepolia testnet.
SEC Dismises Conensys Lawsuit
Consensys founder Joseph Lubin announced that the SEC has agreed to end its lawsuit against Consensys. The lawsuit, initiated by the SEC in June 2024, accused Consensys of unregistered securities violations, specifically concerning MetaMask Swaps and MetaMask Staking services. The SEC plans to file a formal stipulation to dismiss the case in the coming weeks. Previously, Consensys had sued the SEC for overstepping its authority following subpoenas that demanded extensive details about Consensys's role in the Ethereum Merge. The SEC subsequently withdrew its investigation into Ethereum in 2024. Today’s dismissal follows a trend of the SEC ending enforcement actions against crypto platforms, including Coinbase, OpenSea, and Uniswap.
Holesky Validator Slashing Plan
Holesky testnet validators agreed on a coordinated plan to temporarily disable slashing protection on February 28 at 15:00 UTC. The action aims to quickly finalize an epoch and establish a clean synchronization checkpoint. Validators are advised to continue syncing to the correct chain and maintain their slashing protection until slot 3737760. The Pectra fork on Sepolia will proceed as planned on March 5th at 7:29 UTC. Validators on Sepolia using Geth, Besu, Nethermind, or Lodestar clients must update their software before the scheduled upgrade.
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