The American crypto exchange Coinbase announced in February this year that it would launch its own blockchain. More precisely, the arrival of a layer-2 scaling solution announced on top of Ethereum (ETH). The network named Base has now started and is ready to welcome users.
New Ethereum scaling network
About a month ago, crypto news reported that the network opened its doors to all developers. This was the last phase before the public launch and the network is now scheduled to be open to everyone.
The base is open and the Onchain Summer is here 🟡
Become a part of Base history by shaping Base Day One and joining the story of bringing the world on chain
Our history. pic.twitter.com/9PZCLQQV7p
– Base 🛡️ (@BuildOnBase) August 9, 2023
Users can therefore use ether Bridge from that mainnet to Base via the official Base Bridge, which launched a user interface on August 3rd. On August 9th it was announced cross chain Wormhole bridging protocol also states that it is available on Base.
Also, at least two decentralized exchanges (DEXs) have announced they will be running on base, and a third could be launched soon. Uniswap, one of the first decentralized exchanges on Ethereum, was launched on August 7th explained that the DEX is live on Base. The Maverick protocol is the second decentralized exchange to run on the new Layer 2, and LeetSwap could become number three in this regard. LeetSwap was already available on Base during the development phase, but is currently located due to a exploit from August 1st.
In addition, Base already has a decentralized app (dApp) for payments called Beam. The web-based app allows users to make payments using USD Coin (USDC) or the indigenous Coin named Eco.
It’s also easy for developers and end users Decentralized Autonomous Organizations (DAOs) based on Aragon.
Masa Finance allows users to register their .masa usernames on Base, which can later be used for loan acceptance and other purposes know your customercompatible services.
Finally, several brands and projects allow Base users to purchase non-fungible tokens (NFTs) in August and early September. mint on the network.
1 billion new crypto users
The network must provide a safe, affordable, and developer-friendly way to download dApps on chain build. The ultimate goal is to take cryptocurrency adoption to the next level and bring more than 1 billion new users to the cryptocurrency world. Coinbase will also base its on-chain products on Base.
The scaling network is built using the OP stack toolkit for the Optimism (OP) network.