Bankless

1 Billion Users Onchain | Jesse Pollak of Base

May 2, 2024

Jesse Pollak, co-creator of Base and driving force behind Coinbase's L2 scaling solution, shares how they aim to onboard a billion users onto the blockchain. He discusses Base's impressive growth, scaling by 400x, and its pivotal role in making on-chain transactions more accessible. Pollak delves into reducing transaction costs, the potential for free transactions, and the decentralization debate surrounding Base. Plus, he gives a sneak peek at the exciting Onchain Summer II initiative, designed to boost community engagement and innovation.

01:05:20

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Episode guests

Jesse Pollak

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Base aims to accommodate one billion users on chain through massive scaling efforts and cost management.

Developers might cover gas fees for gasless transactions to improve user experience and drive mainstream adoption.

Coinbase is adopting on-chain applications for cost efficiency, global reach, and seamless integration with the on-chain ecosystem.

Deep dives

Decade of the World Moving on Chain

The speaker believes that the current decade will witness a rapid transition to on-chain technologies, predicting that by the end of the decade, the entire world will operate on the blockchain, emphasizing the acceleration of this movement.

Intro

1min

Scaling Ethereum: Insights on Layer Twos and Centralization

3min

Base's Growth and Scalability Challenges

25min

Navigating Blockchain Transaction Fees

8min

Transforming the Future of Finance: Coinbase's On-Chain Vision

6min

Decentralizing Finance: The Base Network Approach

14min

Empowering On-Chain Engagement

8min

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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------ TIMESTAMPS

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

------ RESOURCES

Onchain Summer II https://www.base.org/

Jesse Pollak https://twitter.com/jessepollak

Jesse’s 1st Base Episode https://youtu.be/7dGU0_eEjq8

Coinbase https://twitter.com/coinbase

Base https://twitter.com/base

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures