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Crypto exchange COINBASE announces the basic launch - a layer-2 ethereum network. Coinbase indicates that the base is designed to be a cost-effective, secure and developer-friendly environment that will draw more users to the crypto sphere.
Cryptocurrency exchange Coinbase announced in a blog post on February 23 the launch of Base. Base is the coinbase ethereum layer-2 (l2) network offering an inexpensive, secure and developer-compatible network for building distributed applications (dapps) on the blockchain. The bottom line is optimistic. In his blog, coinbase says that his goal with the base is to make "on the channel the next online" and embed billions of users in the crypto space.
Layer-2 networks help make transactions faster and less expensive than the underlying blockchain, in this case, the ethereum blockchain. It works through the processing of bundles of transactions on a separate channel. Then returns the receipts to the primary network. According to Coinbase, Base will be “a rollup agnostic superchain powered by Optimism.”
Reports by Decrypt reveal that although Base was only announced this week, a test net for the L2 has been live since the beginning of February. Coinbase says, Base will be "an agnostic rollup superchain powered by Optimism."Decrypt reports show that though Base was announced this week, a trial net for the L2 has been in operation since early February.
Coinbase's senior engineering director, Jesse Pollak, was quoted as saying: We think it will happen over the next five to ten years, and that's what we're doing to make sure it happens as soon as possible." We expect this to happen over the next five to ten years, and that's our contribution to make sure it happens as early as possible."
"Our goal is to get the main network up and running in the coming months." This translates into approximately 110 million verified users and $80 billion in platform assets in the currency base ecosystem.
This translates to approximately 110 million audited users and $80 billion in platform assets in the Coinbase ecosystem.
Will Robinson, Coinbase's vice-president of engineering, stated: We encourage them to start from the ground up. Go anywhere: we see Base as a "bridge" for users in cryptoeconomics."
Coinbase Becomes the First Publicly Traded Company to Launch an L2
Coinbase started trading on Nasdaq under the COIN ticker in April 2021. Will robinson, VP of Engineering for Coinbase, We encourage them to start at the grassroots level, but go everywhere: we see the foundation as a "bridge" for users in the crypto-economy." added, it’s an easy-to-use default on-chain experience with access to products on other chains.”coinbase becomes the first publicly traded company to launch an l2coinbase started trading on nasdaq under the coin ticker in april 2021.
Coinbase becomes the first public company to launch a L2Coinbase trading on the Nasdaq under the symbol COIN in April 2021.
