The Chopping Block: All About That Base With Jesse Pollak - Ep. 535
Aug 24, 2023
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Jesse Pollak, lead contributor at Base, a blockchain by Coinbase, shares insights on the platform's goal to onboard a million developers and a billion users. He highlights why it's still 'day one' for Base and discusses its advantages over other layer 2 solutions. The conversation dives into the rapid success of Friend.Tech, the influence of MEV bots on transactions, and the importance of innovative incentives to foster growth. Pollak also clarifies the competition and collaboration between Base and Optimism, shaping the future of decentralized applications.
The vision is to create a unified super chain where different layer two chains collaborate and work towards a shared goal.
Friend.tech's success is attributed to technical and product decisions that differentiate it from previous attempts in the space.
The platform discussed employs a positive reward loop and innovative features to engage and motivate users.
Deep dives
Building Towards a Unified Chain
The vision for the future is a unified chain, often referred to as the super chain, where different layer two chains, like base and optimism, are connected and work together. While there may be some competition between these chains, the focus is on collaboration and building towards a shared goal. The idea is akin to a federalism model, where each layer two chain represents a state, contributing to the overall functioning of the super chain. The plan is to establish shared bridges, upgrades, and commitments to block space and neutrality, ultimately creating a seamless and interconnected layer two ecosystem.
Innovations and Advantages of Friend.tech
Friend.tech, a social application built on base, has garnered attention and success due to technical and product decisions that differentiate it from previous attempts in the space. Technically, Friend.tech leverages the simplicity and accessibility of using a progressive web app and a wallet-as-a-service solution like Privy. This bypasses the challenges posed by app store policies and allows for a more native app-like experience. From a product standpoint, Friend.tech addresses previous issues by ensuring a dense and engaging user base, where individuals on the platform actively participate and respond to interactions. These strategic choices have contributed to Friend.tech's success and set it apart from competitor projects.
The Relationship Between Base and Optimism
While there may be a perception of cannibalism between base and optimism, the larger vision is to merge different layer two chains into a unified super chain. The goal is to create a harmonious entity where various layer two chains work together towards a shared objective, representing a federalism-like model. Although there may be elements of competition, the aim is collaboration and building towards a future where all layer two chains are interconnected and seamlessly integrated. The ultimate vision is to combine different layer two chains through interoperability, enabling increased throughput and scalability for the entire ecosystem.
Positive reward loop and free money upon sign up
One key point discussed in the podcast is the positive reward loop created by the platform discussed, where users experience quick positive rewards upon signing up, such as receiving extra money in their accounts. This strategy of providing users with a quick and positive economic and mental boost upon entering the platform is seen as a powerful mechanism that is not often explored in other applications. By offering free money right from the start, users are more engaged and motivated to continue using the platform.
Innovative features and the potential for expansion
Another main focus of the discussion was the innovative features offered by the platform, including the creation of chat rooms and the ability for users to buy and sell each other's keys. These features provide a more social and interactive experience beyond just financial gains and price updates. While these features may still be in the early stages and require improvement, they have the potential to make the platform more addictive and engaging. Furthermore, the podcast participants emphasized the platform's ability to quickly iterate on user feedback and add new functionalities, such as enabling the sharing of NFTs through chat rooms. This flexibility and speed of iteration is seen as a result of building on the Ethereum ecosystem, which has seen significant infrastructure investments over the years.
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, Coinbase’s Jesse Pollak talks about the ambitious goals of Base, the new Optimism–based blockchain from the publicly traded crypto giant. With the viral success of Base-based Friend.Tech, Jesse discusses the Base team’s ambitious goals to onboard “a million builders, a billion users.” Is this the long-heralded path to scaling Ethereum?
