• Coinbase launches Base, a layer 2 blockchain built on Optimism’s OP Stack.
• Base provides access to Ethereum, Solana and other blockchains.
• Coinbase announces the Base Ecosystem Fund to invest in projects building on Base.
Table of Contents:
II. Overview of Coinbase’s Layer 2 Blockchain – Base
III. Benefits of Using Coinbase’s Layer 2 Blockchain – Base
Article: Introduction – With the increasing popularity of cryptocurrencies and decentralized applications (dapps), the need for reliable platforms that can handle high transaction volumes without compromising scalability has become more pressing than ever before. To meet this requirement, crypto exchange Coinbase (COIN) recently launched its layer 2 blockchain called “Base” which is built on Optimism’s OP Stack technology. This article will discuss the launch of Coinbase’s layer 2 blockchain, what it offers users and developers, as well as details about its ecosystem fund program designed to support early-stage projects building on Base that meet certain criteria.
Overview of Coinbase’s Layer 2 Blockchain – Base – The testnet for base was started by Coinbase on Thursday and it is joined by Optimism as a core developer for its open-source OP Stack toolkit which is used for developing applications over the Optimism network itself. It is important to note that while base does offer close integration with Ethereum, it does not limit itself to this particular blockchain alone; instead, it also enables secure access to other layer two networks such as Optimism or even different blockchains ecosystems like Solana among others. According to Will Robinson who is Vice President of Engineering at Coinbase “We’re incubating Base inside of Coinbase leveraging our experience from the past decade when building crypto products with plans to decentralize the chain over time“.
Benefits of Using Coinbase’s Layer 2 Blockchain – Base – Using this layer two network allows developers to directly integrate their product with base while providing fiat onramps all targeting an estimated 110 million verified users and $80 billion in assets held within the coindesk ecosystem which makes usage much easier than ever before especially when compared with using traditional crypto exchanges or trading platforms where one would have had to go through a long process just in order sign up and get started using these services; not only that but due to them being part of a larger entity like coinbase such transactions are also likely much safer too given how large scale companies tend have better security protocols than smaller ones do or even individuals running their own operations independently from any organization whatsoever could provide thus making them significantly less vulnerable than before allowing people transact safely without worry about stolen funds or hacked accounts . Furthermore since coinbase already has so many users already signed up , they can also easily incentivize people into trying out their services by offering discounts or loyalty points similar things done by conventional banks credit card companies etcetera thus helping expand reach even further .