On Feb 23, crypto trade Coinbase announced the launch of Base — an Ethereum layer-2 community. The corporate claimed that this new community will supply a low-cost, safe, developer-friendly atmosphere for constructing decentralized apps (DApps) on the blockchain.
In keeping with Coinbase, Base is designed to be a bridge for customers into the crypto economic system, providing entry to different L1 ecosystems like Solana and making it interoperable with different chains. It would additionally present entry to Coinbase’s merchandise, customers and instruments in addition to simple fiat on-ramps and highly effective acquisition instruments. The corporate mentioned it has no plans to problem a brand new community token.
1/ We’re excited to announce @BuildOnBase.
Base is an Ethereum L2 that gives a safe, low-cost, developer-friendly manner for anybody, anyplace, to construct decentralized apps.
Our objective with Base is to make onchain the subsequent on-line and onboard 1B+ customers into the cryptoeconomy. pic.twitter.com/RmwZFJzGGs
— Coinbase (@coinbase) February 23, 2023
Base shall be constructed on the “OP Stack” utilized by Optimism. It would begin off extremely centralized, although Coinbase has released an in depth plan relating to how the community will decentralize over time.
In its announcement, Coinbase mentioned that Base shall be “absolutely open supply and freely out there.” The corporate mentioned it’s becoming a member of the OP Stack core dev staff to “guarantee it’s a public good out there to everybody.”
In keeping with the announcement, Coinbase will proceed to combine as an trade with different networks, and Base itself shall be “a bridge, not an island.” Coinbase intends Base to be an easy-to-use community for its clients to get accustomed to utilizing crypto, however it’s going to encourage customers to “begin on Base, however go in every single place.”
In its decentralization plan, Coinbase mentioned that it’s working with Op Labs and the Optimism Collective to decentralize the Optimism ecosystem by making a “Superchain” of connecting networks constructed on the OP Stack. The corporate judges that the present model of Optimism is a “Stage 0 rollup,” citing Vitalik Buterin’s put up on the decentralization of rollups. By the top of 2023, Coinbase mentioned it plans to have progressed Base to “Stage 1.”
