Bankless Coinbase Announces Base🔵, an Ethereum L2 Network Powered by Optimism
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Feb 23, 2023 Jesse Pollock, Senior Director of Engineering at Coinbase, discusses the groundbreaking launch of Base, Coinbase's Ethereum Layer 2 network built on the OP Stack. He elaborates on how Base enhances user experience by reducing transaction costs and promoting decentralization. Jesse highlights the importance of transitioning users from custodial services to decentralized applications, shares insights on collaboration with Optimism, and outlines the future of blockchain tech integration. Exciting visions for Base and its role in reshaping the crypto landscape are also explored.
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Coinbase's On-Chain Vision
- Coinbase believes the crypto economy is on-chain and wants to bring more of its business on-chain.
- They launched Base to enable developers to build dApps and reach a massive scale through Coinbase's user base.
Base: An Ethereum L2
- Base is an Ethereum L2 with no token, using ETH as gas.
- Built on the OP Stack, Coinbase joins Optimism as a core developer.
Why Base Now?
- Coinbase previously avoided launching a chain due to siloing risks.
- Base integrates into the crypto economy, upholding decentralization values.