Coinbase Announces BASE | NFT CULTURE | Web3 Culture NFTs and Crypto Art
Coinbase, a cryptocurrency exchange, has launched Base, a layer 2 network using Optimism’s OP Stack, aiming to attract millions of new crypto users in the future. Coinbase has begun testing the Base network on its testnet. Coinbase joins Optimism as a core developer on the open source OP Stack, a toolkit for the Optimism network. Base is not limited to Ethereum and will provide easy and secure access to layer 2 networks, such as Optimism, and other blockchain ecosystems, such as Solana. Base offers a secure, affordable and developer-friendly way for anyone to build decentralized apps on the chain. Coinbase plans to gradually decentralize the chain and has no plans to issue a new network token. Coinbase will allow developers to integrate their product with Base and provide fiat onramps, targeting the estimated 110 million verified users and $80 billion in assets on the platform in the Coinbase ecosystem. The Base Ecosystem Fund will invest in and support early-stage projects that build on Base.
Base is an Ethereum L2 that offers a secure, affordable, developer-friendly way for anyone, anywhere, to build decentralized apps. Our goal with Base is to make onchain the next online and onboard 1B+ users in the crypto economy.
Coinbase is disappointing
It’s worth noting that despite the anticipation surrounding Coinbase’s Base network launch, the announcement has been seen as lackluster by some in the cryptocurrency community. This is likely due to Coinbase’s disappointing track record over the past year, particularly with the failed launch of an NFT marketplace, which was announced with great fanfare but ultimately shelved. Some critics are concerned that Coinbase may struggle to attract users to its new network, especially given the growing competition in the cryptocurrency space. However, others remain optimistic about the potential of the Base network, believing that Coinbase’s expertise and resources could give it an edge over its rivals in the long run. Only time will tell if the base network will succeed or not.
Important: Base is *not* a token. We do not plan to issue a new network token for Base and will use ETH as the original gas token.
1/ 🔵 We are happy to announce @BuildOnBase.
Base is an Ethereum L2 that offers a secure, affordable, developer-friendly way for anyone, anywhere, to build decentralized apps.
Our goal with Base is to make onchain the next online and onboard 1B+ users in the crypto economy. pic.twitter.com/RmwZFJzGGs
— Coinbase (@coinbase) 23 February 2023
