Coinbase Layer 2 Base Introduced New Identity Tool

Key Points:

• Coinbase Layer 2 Base launched Basenames to make blockchain addresses more readable, using a very similar system to ENS.
• The Basenames tool allows users to connect wallets, look up other names, and flesh out profiles with bios and social links.

The team behind Coinbase Layer 2 Base has just announced Basenames, a new tool to make alphanumeric blockchain addresses more user-friendly, The Block first reported the news.

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Coinbase Layer 2 Base Introduces Basenames for User-Friendly Blockchain Addresses

Building upon the Ethereum Name Service (ENS) that offers .eth addresses, such as vitalik.eth, Basenames will essentially be running on a similar basis with some Base-specific extension .eth.base.

Basenames enable users to connect any of their multiple wallets, from MetaMask and Rainbow to Coinbase Wallet, when signing in to manage their blockchain names. It also has a search feature to allow users to discover other Basenames, including a profile that can be customized by adding a bio, social links, and professional skills to the user’s profiles.

Thomas Vieira, Base’s Head of Product, pinned much on the role of the tool in building relationships within the community. “Our vision for Base Names is that it is the connective tissue that will enable builders to connect with other builders,” he said during Coinbase‘s BaseCamp Summit.

Vieira also introduced Basenames were like a digital resume, with users being able to highlight on-chain a record of their skills and credentials.

New Basenames Tool Enhances Transactions

Apart from personal accounts, Basenames would make transactions much easier by eliminating potential mistakes from the traditional alphanumeric addresses. As designed, the system would reduce flaws, hence making payments much more secure.

Since launching in August 2023, Coinbase Layer 2 Base has gotten tremendous traction, most especially among decentralized exchange traders. The blockchain now supports approximately 80% of Uniswap’s monthly active traders, according to data given by crypto researcher Token Terminal.