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News

Coinbase Layer 2 Base Introduced New Identity Tool

August 1, 2024 - Around 2 mins mins to read

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.
Coinbase Layer 2 Base Introduced New Identity Tool

Read more: Coinbase Quarterly Revenue May Drop Due to Weak Market Volatility

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.

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.

base

Basenames

Coinbase

Coinbase Layer 2 Base

ENS

Ethereum name service

Layer 2

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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.
News

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.
Coinbase Layer 2 Base Introduced New Identity Tool

Read more: Coinbase Quarterly Revenue May Drop Due to Weak Market Volatility

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.

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.