Coinbase Launches Layer-2 Network to Bring Users Into Crypto Economy

• Coinbase launches a new Ethereum layer-2 network called Base for building decentralized apps
• The low-cost, secure, developer-friendly environment will serve as a bridge to bring users into the crypto economy
• Base will be built on the “OP Stack” used by Optimism and start off highly centralized but will decentralize over time

Coinbase Launches New Layer-2 Network

Coinbase announced the launch of Base — an Ethereum layer-2 network. The company claimed that this new network will offer a low-cost, secure, developer-friendly environment for building decentralized apps (DApps) on the blockchain.

Purpose of Base

According to Coinbase, Base is designed to be a bridge for users into the crypto economy, offering access to other L1 ecosystems like Solana and making it interoperable with other chains. It will also provide access to Coinbase’s products, users and tools as well as easy fiat on-ramps and powerful acquisition tools. The company said it has no plans to issue a new network token.

Technical Details

Base will be built on the “OP Stack” used by Optimism. It will start off highly centralized, though Coinbase has released a detailed plan regarding how the network will decentralize over time.

Advantages of Using Base

Users can benefit from using Base due to its lower costs compared to other blockchain networks — which makes it perfect for developers who want to create DApps without spending too much money. Additionally, with its interoperability capabilities, users can use different chains in one application which provides more flexibility when building applications.

Conclusion

Coinbase’s new layer-two network provides developers with an inexpensive way of creating decentralized applications while still allowing them full control of their projects. With its security features and interoperability capabilities, it could become an important tool in helping bring more users into the crypto space in the future.

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