This chapter explores the strategic evolution of Coinbase as it introduces Base, a layer two solution aimed at enhancing user engagement within the Ethereum ecosystem. The discussion highlights the challenges faced in aligning this new initiative with Coinbase's core business model, along with the broader shift towards on-chain activities in the digital economy. Key themes include innovation, partnership with Optimism, and the transformative potential of smart contracts for improving financial processes and user experiences.
On this episode of FYI, ARK Chief Futurist Brett Winton and Research Associate Lorenzo Valente sit down with Jesse Pollak, the driving force and creator of Coinbase’s Layer 2 solution, Base. Together they explore the intricate details of how Coinbase is aiming to transform its core business through innovative blockchain solutions. Jesse shares his journey from initial failures to the successful launch of Base and discusses the broader implications for the crypto industry.
"The way we really think about Base is that we are building an open global economy." - Jesse Pollak
Key Points From This Episode:
- The inception and purpose of Base, Coinbase’s Layer 2 solution
- Jesse Pollack’s journey from idea to successful implementation of Base
- The technological innovations behind Base and its Optimism partnership
- Coinbase’s vision for the future on-chain economy
- The strategic importance of decentralization and open-source technology
- The expected impact of 4844 and future scaling plans
- How Base aims to support hundreds of millions of users
- The role of Coinbase Wallet in driving on-chain adoption
- Predictions on the rapid growth of on-chain applications
- The economic model driving Coinbase’s on-chain strategy