BTC

$61839.078

1.83%

ETH

$3420.273

4.21%

BNB

$577.596

2.80%

XRP

$0.477

0.80%

Blockchain

Coinbase Layer-2 Blockchain Now General Public On Ethereum Mainnet

August 9, 2023 - Around 2 mins mins to read

Key Points:

  • Coinbase’s Base mainnet launches to the public with 100+ dApps, lower fees, and faster transactions.
  • Over $139 million has already been deposited pre-launch, offering an improved user experience.
  • Based on Optimism’s technology, the network focuses on scalability, decentralization, and zkEVM integration.
Coinbase’s Base mainnet has officially opened its doors to the public, marking a significant milestone in the world of decentralized applications.
Coinbase Layer-2 Blockchain Now General Public On Ethereum Mainnet
Coinbase Layer-2 Blockchain Now General Public On Ethereum Mainnet 3

This launch comes after a successful testnet phase in February, followed by a developer-exclusive release in July. The Base ecosystem now boasts a diverse range of over 100 dApps and service providers.

Since its initial testnet debut, Base has integrated seamlessly with a multitude of crypto projects, ranging from DeFi protocols and wallets to oracles and analytics providers. This integration has facilitated enhanced user experiences, with lower transaction fees and quicker transaction speeds compared to the Ethereum network.

Ahead of its public unveiling, an impressive $139 million had already been deposited into apps and protocols on the network, as reported by crypto analysis firm L2Beat.

Screenshot 2023 08 09 at 23.36.08
Source: L2Beat

Coinbase‘s Base has been open to developers since July 13, leading to numerous users bridging their ETH to the layer-2 network via a portal proxy contract. The community’s response has been enthusiastic, with crypto enthusiasts embracing the network as soon as its doors were figuratively opened.

The mainnet launch introduces a variety of decentralized apps and service providers, including notable names like Uniswap, Aave, and Compound. As part of the “on-chain summer” event, users can mint multiple NFT designs and artworks to celebrate the launch.

Built on Optimism’s OP Stack, Base operates as a roll-up network, offering a scaling solution that processes transactions off the Ethereum main blockchain. This approach significantly reduces costs and makes the network more accessible for dapp developers.

Additionally, the Base and Optimism teams are collaborating with ecosystem contributors to explore the potential integration of zkEVM technology into the OP stack.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

AAVE

base

Coinbase

Compound

dApp

Layer 2

OP Stack

optimism

Uniswap

Avatar of Harold

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Blockchain

Coinbase Layer-2 Blockchain Now General Public On Ethereum Mainnet

Key Points:

  • Coinbase’s Base mainnet launches to the public with 100+ dApps, lower fees, and faster transactions.
  • Over $139 million has already been deposited pre-launch, offering an improved user experience.
  • Based on Optimism’s technology, the network focuses on scalability, decentralization, and zkEVM integration.
Coinbase’s Base mainnet has officially opened its doors to the public, marking a significant milestone in the world of decentralized applications.
Coinbase Layer-2 Blockchain Now General Public On Ethereum Mainnet
Coinbase Layer-2 Blockchain Now General Public On Ethereum Mainnet 6

This launch comes after a successful testnet phase in February, followed by a developer-exclusive release in July. The Base ecosystem now boasts a diverse range of over 100 dApps and service providers.

Since its initial testnet debut, Base has integrated seamlessly with a multitude of crypto projects, ranging from DeFi protocols and wallets to oracles and analytics providers. This integration has facilitated enhanced user experiences, with lower transaction fees and quicker transaction speeds compared to the Ethereum network.

Ahead of its public unveiling, an impressive $139 million had already been deposited into apps and protocols on the network, as reported by crypto analysis firm L2Beat.

Screenshot 2023 08 09 at 23.36.08
Source: L2Beat

Coinbase‘s Base has been open to developers since July 13, leading to numerous users bridging their ETH to the layer-2 network via a portal proxy contract. The community’s response has been enthusiastic, with crypto enthusiasts embracing the network as soon as its doors were figuratively opened.

The mainnet launch introduces a variety of decentralized apps and service providers, including notable names like Uniswap, Aave, and Compound. As part of the “on-chain summer” event, users can mint multiple NFT designs and artworks to celebrate the launch.

Built on Optimism’s OP Stack, Base operates as a roll-up network, offering a scaling solution that processes transactions off the Ethereum main blockchain. This approach significantly reduces costs and makes the network more accessible for dapp developers.

Additionally, the Base and Optimism teams are collaborating with ecosystem contributors to explore the potential integration of zkEVM technology into the OP stack.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Visited 104 times, 1 visit(s) today