On Feb 23, crypto alternate Coinbase announced the launch of Base — an Ethereum layer-2 community. The corporate claimed that this new community will supply a low-cost, safe, developer-friendly surroundings for constructing decentralized apps (DApps) on the blockchain.
Based on Coinbase, Base is designed to be a bridge for customers into the crypto economic system, providing entry to different L1 ecosystems like Solana and making it interoperable with different chains. It should additionally present entry to Coinbase’s merchandise, customers and instruments in addition to simple fiat on-ramps and highly effective acquisition instruments. The corporate stated it has no plans to difficulty a brand new community token.
1/ We’re excited to announce @BuildOnBase.
Base is an Ethereum L2 that provides a safe, low-cost, developer-friendly approach for anybody, wherever, to construct decentralized apps.
Our aim with Base is to make onchain the subsequent on-line and onboard 1B+ customers into the cryptoeconomy. pic.twitter.com/RmwZFJzGGs
— Coinbase (@coinbase) February 23, 2023
Base will likely be constructed on the “OP Stack” utilized by Optimism. It should begin off extremely centralized, although Coinbase has released an in depth plan relating to how the community will decentralize over time.
In its announcement, Coinbase stated that Base will likely be “absolutely open supply and freely accessible.” The corporate stated it’s becoming a member of the OP Stack core dev workforce to “guarantee it’s a public good accessible to everybody.”
Based on the announcement, Coinbase will proceed to combine as an alternate with different networks, and Base itself will likely be “a bridge, not an island.” Coinbase intends Base to be an easy-to-use community for its prospects to get accustomed to utilizing crypto, however it can encourage customers to “begin on Base, however go in all places.”
In its decentralization plan, Coinbase stated that it’s working with Op Labs and the Optimism Collective to decentralize the Optimism ecosystem by making a “Superchain” of connecting networks constructed on the OP Stack. The corporate judges that the present model of Optimism is a “Stage 0 rollup,” citing Vitalik Buterin’s submit on the decentralization of rollups. By the tip of 2023, Coinbase stated it plans to have progressed Base to “Stage 1.”
