Leading US-based cryptocurrency exchange platform Coinbase launches bridge for Ethereum scaling solution
Coinbase has launched a bridge for its ‘Base’ layer-2 scaling solution for Ethereum. The Base mainnet will go public on August 9. The bridge, powered by the Optimism blockchain scaling solution, allows users to sign up without requiring developer tools.
Main points:
- Base is now open for bridging
- Base mainnet will open on August 9
- Dapps across the on-chain ecosystem can turn on Base support
- Users can access Base via the official website, Coinbase quiz, or web3 protocols like Galxe and Layer3
- Over $90 million worth of Ethers have already been bridged to Base
Base’s mission and features:
The mission of Base is to bring new users and builders into the crypto industry. It offers access to goods on Ethereum and other networks, including Solana. Base uses the OP software stack and rollups for low-cost transactions. To celebrate the launch of the bridge, Base is hosting its first-ever Onchain Summer Festival, offering rewards and incentives to users.
Base’s token and compatibility:
Base does not have its own network token and instead uses Ether as the native gas token. Users who bridge their ETH to Base may receive rewards in ETH and NFTs. Base is compatible with various wallet apps, including Coinbase Wallet, Rainbow, Safe, Brave, and more.
Hot Take:
Coinbase’s launch of the Base bridge for Ethereum scaling solution is a significant development that aims to bring more users and builders into the crypto industry. By offering easy access and interoperability with Ethereum and other networks, Base has the potential to expand the adoption of cryptocurrencies and decentralized finance. The Onchain Summer Festival and rewards further incentivize participation, creating a vibrant ecosystem around Base. This move by Coinbase showcases their commitment to innovation and growing the crypto community.
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