The chapter explores the development and challenges faced by Base, a layer 2 solution for Coinbase, including strategic partnerships and the impact of the 4844 upgrade on lowering costs but increasing demand. It delves into the evolving Ethereum ecosystem with insights on fees, network demand, data availability, and scalability challenges in both L1 and L2 scaling. The discussion extends to revenue generating deployers, transaction costs, layer threes (L3), and the potential for breaking changes to enhance scalability.
While it's still early in the race, Base is now one of Ethereum’s largest L2s.
In today’s episode, we brought back on repeat guest and co-creator of Coinbase’s L2, Base, Jesse Pollak.
We cover: - How Base plans to bring billions of users onchain - How Base is increasing its scale by 400x - How Coinbase is using Base to be more onchain - Onchain Summer II
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0:00 Intro 4:41 Base’s First 8 Months 9:23 The Road to 1 Giga Gas Per Second 18:39 Why More Demand For Base? 21:26 Cost to Send Transactions on Base 23:59 Non-Ethereum DA Solution? 25:59 Scaling Via L3s on Base? 27:17 Parallelization Solution? 29:34 Will Base Make Transactions Free? 38:18 Coinbase's Relationship With Base 46:18 Base Is Centralized Critique 50:17 The Base Flywheel 57:46 Onchain Summer II 58:36 Next Target Demo to Come Onchain 1:00:42 Base Independence 1:02:19 1 Billion People Onchain 1:03:25 Closing & Disclosures