The Debate on Centralized FUD of Base Chain: Is the Sequencer a Technical Compromise or a Power Monopoly?

There has been a lot of controversy regarding the chain, and recently there has been fear, uncertainty and doubt (FUD) aimed at the Base chain, which even prompted V God to come out and help defend Base.

Currently, it seems that there are no KOLs in the CT Chinese community discussing this matter. This tweet briefly summarizes the "Base FUD Gate" incident.

The focus of FUD is: because Base operates a centralized sequencer, it is essentially an unlicensed centralized securities exchange.

The CLO and the overall head of Base at Coinbase both gave strong rebuttals:

The core function of the sorter is to sort transactions rather than to match transactions, which is achieved by smart contracts in a decentralized manner. Therefore, the Base that operates the centralized sorter is not a centralized exchange in the traditional sense.

"Base is not a casino, but that doesn't mean Base is decentralized." Let me share my thoughts.

Regarding Base not being a casino, both executives provided good explanations, emphasizing that "this does not mean Base is decentralized."

The core function of the sorter is transaction sorting. In simple terms, when a user's transaction on L2 enters the mem pool (at this point, the transactions in the mem pool are in an unordered state), the sorter will sort and compress the transactions into a set of ordered batches and then send them to the DA layer of Ethereum.

Base is a centralized sorter operated by the official, which in a sense gives the sorter great autonomy in transaction ordering. It can arbitrarily order transactions to maximize its own arbitrage opportunities, capture MEV value, delay user transactions, or even completely censor users.

According to data from growthepie, the Base chain has earned a staggering $5.11 million in revenue in the past month, and over the past year, this figure has reached $87 million, with its money printing capability far exceeding that of the second-ranked Arbitrum.

.Base's official-operated sorter is like an invisible hand, quietly seizing massive wealth.

Decentralized sorting is not a new concept; it can even be said to be a relatively mature track. However, its decentralization implies the profit-sharing that inevitably comes with the decentralization of power. Is the Base chain willing to sacrifice the interests of super individuals for the great decentralized process of L2?

Currently, it seems unrealistic.

Not being a casino does not mean that Base is sufficiently decentralized; the road to decentralization for the sorter is still long and arduous.