The Base L2 network team deployed the Cobalt upgrade to its mainnet on September 30. This release introduces Validity Transactions, allowing users to attach on-chain conditions to signed operations. Transactions remain inactive until specific criteria, such as wallet balance, smart contract state, or block height, are met.
Cobalt expands the B20 standard used for stablecoins and tokenized assets. Issuers can now apply composite policies by combining multiple allowlists and blocklists using logical operators. The update also adds a seizeWithMemo function, enabling authorized administrators to transfer tokens between addresses with an on-chain note, provided the feature is enabled for the specific asset.
The upgrade simplifies network maintenance by storing future hard fork schedules in an Ethereum smart contract, allowing nodes to apply updates without restarts. Additionally, the network has transitioned to fully on-chain verification for participants using Trusted Execution Environments, removing reliance on external proof generation services.
While the initial plan included native account abstraction via EIP-8130, this feature was deferred. The team intends to integrate smart accounts directly into the protocol in the coming months. Future development goals include reducing block times from two seconds to 200 milliseconds and incorporating elements from the upcoming Ethereum Glamsterdam update.
