• Coinbase has announced the launch of its own Layer 2 blockchain for Ethereum (ETH) called Base.
• Base offers a secure, low-cost and developer-friendly way to build decentralized applications (dApps).
• The immediate next step will be to ensure a successful Base testnet and share more detailed roadmap in the weeks ahead.
Coinbase Launches Layer 2 Blockchain Base
Coinbase, a major US-based crypto exchange, has announced the launch of its own layer 2 blockchain for Ethereum (ETH) called Base. This new blockchain provides developers with a secure, low-cost, and developer-friendly way to build decentralized applications (dApps).
The announcement made by Coinbase also stated that Base is interoperable with other popular Layer 1 blockchains like Solana (SOL), as well as with Ethereum’s base layer and other Ethereum second-layer networks. In addition, Coinbase plans to „progressively decentralize“ the chain over time, without issuing any native tokens.
The immediate next step now will be to ensure a successful Base testnet and share more detailed roadmap as well as more developer resources in the weeks ahead. Additionally, Coinbase’s stock price rose after the news of the new network was announced but dropped slightly in pre-market trading afterwards.
Adam Cochran Comments
Commenting on the launch of Base, Adam Cochran, partner at Cinneamhain Ventures and an industry advisor for Coinbase said: “Coinbase has unparalleled reach among consumers in terms of both trust & adoption—now they are bringing that same level of attention & excellence to developers“. He further added that he believes this move “will open up an entirely new world of innovation & development”.
Overall, by launching their own Layer 2 blockchain network called Base, Coinbase hopes to make onchain transactions faster, cheaper and more secure than ever before while also attracting new users into the cryptoeconomy across the globe.