Coinbase Releases Ethereum L2 Network Base for Mass Adoption
It is reported that Coinbase has released the Ethereum L2 network base, which is a safe, low-cost and developer friendly Ethereum L2, aiming to introduce the n…
It is reported that Coinbase has released the Ethereum L2 network base, which is a safe, low-cost and developer friendly Ethereum L2, aiming to introduce the next generation of 1 billion users for Web3. Base will be positioned as the product home on the chain of Coinbase, and also an open ecosystem that anyone can build. At present, the Base test network has been launched, and the main network will be released later.
Coinbase releases Ethereum L2 network base
Interpretation of the news:
Coinbase, one of the leading cryptocurrency exchanges globally, has launched the Ethereum L2 network base, named Base, which aims to introduce the next generation of Web3 users to safe, low-cost, and developer-friendly Ethereum L2. The exchange has decided to position Base as the product home on their chain and an open ecosystem that anyone can build upon. It is noteworthy that the Base test network is already live with the main network set to be launched soon.
The Ethereum network has been struggling with a bottleneck in its capacity to process transactions, leading to slow transaction validation times, high fees, and network congestion. The L2 solutions, which are essentially Layer 2 scaling solutions, offer a remedy to the Ethereum scalability issues, allowing much higher throughput and lower transaction fees. With Base, Coinbase envisions a blockchain platform that can handle numerous transactions while ensuring the ecosystem stability.
Coinbase’s move is strategic, considering the growing competition in the blockchain and crypto space that has witnessed a significant rise in the adoption of decentralized applications (DApps). The company aims to tap into the mass adoption of blockchain technology and, more broadly, Web3, leveraging their brand’s recognition and established presence in the market.
While Coinbase will receive additional revenue from any app running on the Base network, they have made it clear that anyone can build, meaning the network is an open ecosystem for developers to build upon. The company aims to make the Base interface easy for developers to integrate and deploy blockchain-based applications to the platform.
Another significant advantage of Base is that it is low-cost, providing an ideal home for blockchain start-ups looking to launch their apps without having to worry about high operational costs. Essentially, the aim is to incentivize the development of the next Web3-based decentralized applications, which has the potential to transform various industries by promoting transparency and security.
In conclusion, Coinbase’s release of the Ethereum L2 network base, Base, is a strategic move towards mass adoption of the blockchain technology that enables high throughput and scalability while reducing transaction fees. Coinbase aims to offer a stable and easy-to-use platform for building the next generation of decentralized applications through Base, making it an ideal home for blockchain start-ups looking to launch their apps at low costs.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/2837/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
What currency is NSURE (NSURE Coin Team)
sure what currency is sure what currency is sure? In traditional finance, the hedging of an asset is not good. Because there is no way to invest all the money into this asset like other investments. And nsurer is to ensure the safety of assets Simply put, we can place anything in a safe deposit for safekeeping and use, such as taking some stocks or real estate as collateral for a loan. But if you don’t do this, your funds will be lost forever. So NSURE actually brings profits to the entire industry by providing liquidity and trading strategies. Meanwhile, due to the immutability and other characteristics of the smart contract code on the blockchain, it can achieve ownership verification of data on the chain Azure Coin TeamAccording to the Azure Coin team, in the past few days, we have received many emails from project owners and developers. They hope to help everyone understand the mechanism and related knowledge of…
-
Salesforce is Expanding its Customer Service to include NFT Loyalty Program
According to reports, Salesforce, a customer relationship management (CRM) platform, said on Wednesday that it was expanding its customer service to include management of the NFT loyalty program. According to its website, the product suite that makes up Salesforce Web3 will help companies build, manage, and integrate NFT into their business. The new platform will also support Web3 technology through its customer service product, Customer360. Customer relationship management platform Salesforce expands its customer service Analysis based on this information:Salesforce, a customer relationship management (CRM) platform, announced on Wednesday that it is expanding its customer service to include the management of the NFT (non-fungible token) loyalty program. NFTs are digital assets that allow collectors to prove that they own a unique piece of content such as a piece of artwork or a tweet. The use of NFTs is popular among artists and creators who wish to monetize their work and build a loyal community. Salesforce is now offering a suite of…
-
USDC Active Addresses Dropping: Potential Implications for Crypto Market
On February 25, Glassnode data showed that the number of active addresses (MA on the 7th) of USDC was 2407.268, reaching a one-month low.
The number of…
-
Silicon Valley Bank’s Ambiguity in the Face of Financial Crisis
On March 12, CNBC quoted people familiar with the matter as reporting that a few hours before the takeover of the Federal Deposit Insurance Corporation (FDIC), Silicon Valley Bank (SIVB) issued the year-end bonus to American employees on Friday (March 10) as scheduled. This payment is for the work completed in 2022, and was already being processed a few days before the bank failed. Employees of Silicon Valley Bank received year-end bonus hours before FDIC took over on Friday Analysis based on this information:The ongoing economic turmoil and the looming possibility of bankruptcy in the financial industry have shaken the global markets. In this context, the news that Silicon Valley Bank (SIVB) made year-end bonus payments to their American employees a few hours before the Federal Deposit Insurance Corporation (FDIC) takeover on March 12, comes as a surprise. According to reports from people familiar with the matter, the payment was scheduled on March 10, and it is for the work…
-
Table of Contents
According to reports, two former members of the US Congress are returning to Washington to lead an independent effort to promote the benefits of Bitcoin. Former representatives Tim
-
ETH 2.0: Understanding the Latest Developments in the Crypto Market
According to reports, data shows that the total number of pledges for ETH 2.0 has exceeded 17786600, reaching 17786634, with a value of approximately $31134 million at current mark
-
Heading 1: Introduction
On April 27th, it was announced that the Free-to-Play H5 game Flappy Moonbird would start casting on the Ethereum chain on May 9th.
Free to Play H5 game Flappy Moonbird will start -
Paxos Destroys 91.19 Million BUSDs: What This Means for the Crypto Market
According to reports, Whale Alert data showed that Paxos destroyed 91.19 million BUSDs today.
Paxos destroyed 91.19 million BUSDs today
Interpreta…
-
Civilization Kit: Paxful Co-Founder Ray Youssef Plans to launch a new P2P Trading Platform
On April 5th, it was announced that after Paxful announced the suspension of operations in the Bitcoin peer-to-peer trading market, Paxful co founder Ray Youssef plans to launch a
-
The Impact of TikTok’s Ban on Bitcoin Market Data Search
On April 11, it was reported that, according to the page, the search for \”Bitcoin\” in Tiktok App could no longer display market data, and only retained the risk warning of \”accordi
-
Tether USDT reaches new highs
According to the report, according to the data of Coingecko, the short-term premium of the US dollar stable currency Tether (USDT) has risen to US $1.02, and the current market value has also risen to US $74.227 billion, a new high since May 2022. USDT has a short-term premium, which has now risen to $1.02 Analysis based on this information:The cryptocurrency market is currently experiencing a surge in the value of the US dollar stablecoin, Tether (USDT). According to a report based on the data provided by Coingecko, Tether’s short-term premium has reached US $1.02, which is a remarkable hike in comparison to its previous value. Additionally, the report reveals that the current market value of the Tether stablecoin has risen to US $74.227 billion, marking a new high since May 2022. This observation highlights the increasing demand for stablecoins in the cryptocurrency market, as investors seek stable digital assets of value. Tether, often referred to as a stablecoin, is…
-
ThirdFi Integrates OKC Chain for Enhanced Interoperability and Performance
On March 22, the Web3 middleware ThirdFi announced that it had integrated OKC (OKX chain), an EVM compatible L1 based on Cosmos, focusing on true interoperability (IBC) and maximiz
-
Deutsche Bank Eyeing Possible Acquisition of Credit Suisse’s Businesses
According to reports, according to people familiar with the matter, Deutsche Bank is closely monitoring the situation of Credit Suisse Group to look for possible opportunities to acquire certain businesses of Credit Suisse. The internal discussions at Deutsche Bank involved which parts of Credit Suisse would be attractive if they were acquired or spun off by UBS Group, and how large a valuation they would give to these assets if they were listed. Insider: Deutsche Bank is studying the acquisition of Credit Suisse assets Analysis based on this information:Recently, it has been reported that Deutsche Bank is closely monitoring the situation of Credit Suisse Group to explore possible opportunities to acquire certain businesses of Credit Suisse. This move has come amidst the aftermath of the Archegos Capital Management crisis which hit the Swiss bank hard, resulting in a significant decline in its profits and revenue. To make matters worse, Credit Suisse announced last month that it would incur a loss…
-
BlockFi declares bankruptcy and sets up claims process deadlines
On February 14, BlockFi, the encryption and lending company that has filed for bankruptcy, tweeted today: \”From today on, BlockFi customers will receive import…
-
The Rise of the King: Why Bitcoin is Superior to Other Cryptocurrencies
According to reports, legendary trader Peter Brandt stated that I believe Bitcoin is superior to other cryptocurrencies and will bury all impostors. In the end, there will only be
-
AlienFi Takes A Stand Against Fair Launch Mode
On February 26, it was reported that the Arbitrum ecological DEX AlienFi announced that it would not launch the project through the Fair Launch mode, and point…