Key facts
- Base, an Ethereum Layer 2 network incubated by Coinbase, is launching the Beryl upgrade.
- The Beryl upgrade is scheduled for June 25.
- The upgrade introduces the B20 token standard.
- The B20 token standard is designed for assets like stablecoins.
- Withdrawal delays to Ethereum will be reduced.
- Withdrawal times will decrease from seven days to five days.
The Ethereum Layer 2 network Base, which was incubated by Coinbase, is scheduled to implement its Beryl upgrade on June 25. This significant upgrade will introduce the B20 token standard, a new framework intended for various digital assets including stablecoins. A key benefit of the Beryl upgrade is the reduction of withdrawal delays when transferring assets from the Base network to the Ethereum mainnet. Previously, these withdrawals took seven days, but the upgrade will shorten this period to five days. This enhancement aims to improve the user experience and operational efficiency of the Base network by allowing for faster access to funds on the Ethereum blockchain.