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BASE: Coinbase Launches Decentralized Blockchain

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Coinbase’s Pioneering Decentralized Blockchain

Base, Coinbase’s revolutionary decentralized blockchain, is a crypto milestone. This makes Coinbase the first publicly traded company to introduce its proprietary blockchain technology, redefining its industry position.

From Base’s testnet launch in February to the July developer release, this year’s events have built to this point. As part of the “on-chain summer” festivities, which encompass art and gaming, the network has officially launched its mainnet.

Brian Armstrong, the visionary founder of Coinbase, took to Twitter to announce, “Base main net is now live, boasting over 100 apps and services. It offers low gas fees, rapid transaction speeds, and secure settlements on the Ethereum platform.”

The Purpose Behind “Base”

Beyond being a technological advancement, the launch of Base holds strategic implications for Coinbase and its community. As a company renowned for its closely monitored crypto stocks, Coinbase envisions not only deriving revenue from its blockchain operations but also from the diverse array of applications built upon this new infrastructure.

Coinbase’s move into dApps supports CEO Brian Armstrong’s 2016 goal of reaching a billion people. In April 2021, Coinbase was listed on Nasdaq, demonstrating its crypto influence.

Base is a “layer 2” blockchain built on Ethereum and using Optimism’s OP Stack software. Even before its public debut, Base managed to attract a substantial $139 million in deposits through its apps and protocols. This noteworthy achievement positions Base as the fifth-largest layer-2 blockchain, following in the footsteps of prominent contenders like Arbitrum One and OP Mainnet.

The Coinbase community is exuberant about this launch, proclaiming, “A bold move, albeit one that echoes throughout history—every revolution faced its skeptics. Welcome to the forefront of the next financial era.” With the advent of Base, Coinbase has not only etched its name in the annals of crypto history but also embarked on a journey that could reshape the very fabric of the financial landscape.

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