Coinbase Set to Unveil Layer 2 Blockchain ‘Base’ on August 9


Coinbase Set to Unveil Layer 2 Blockchain ‘Base’ on August 9

Coinbase recently confirmed that its Layer 2 blockchain, aptly dubbed “Base.” Built upon the Optimism’s OP Stack, Base will go live for public access on August 9.

Base was initially accessible to developers in July, letting them experiment with applications on this innovative network.  The popular U.S-based cryptocurrency exchange, in a recent blog post, confirmed that bridging of Ethereum (ETH) to Base would be available from Thursday onwards.

Prominent Parties to Join In

This announcement aligns perfectly with Coinbase’s plan to announce its Q2 earnings. It also conjuncts with the launch of “Onchain Summer,” a collection of events that invite creators and developers to exhibit their artwork or develop applications on Base. Prominent participants include the soft drink titan Coca-Cola, gaming behemoth Atari, and NFT marketplace OpenSea.

Coinbase’s decision to publicly launch Base signifies a major stride in broadening its services in the swiftly progressing blockchain tech domain. The launch offers users a chance to experience the advantages of Layer 2 solutions, designed to resolve scalability issues and exorbitant transaction costs inherent in Ethereum’s mainnet.

Anticipation Over Layer 2 Builds Up

Layer 2 solutions such as Base, built on Optimism’s OP Stack, are poised to transform the blockchain sector by enabling faster, cheaper transactions, making decentralised applications more user-friendly for global users.

As the crypto community holds its breath for the official unveiling on August 9, the “Onchain Summer” campaign offers an exhilarating platform for developers and artists to display their talents and develop pioneering applications on the Base network.

Stay locked in for further updates on Coinbase’s Q2 earnings and the thrilling developments in the Layer 2 blockchain technology sphere.

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Coinbase is preparing for the public launch of its Layer 2 blockchain “Base” on August 9. Find out which big names are participating.


Flavie Du

Flavie Du was a senior writer at BTW media focused on blockchain and fintech investment. She graduated from King’s College London.

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