Coinbase recently launched its new blockchain called Base, which has quickly gained popularity as an Ethereum-based layer-2 chain. On September 21, the chain recorded 677,000 transactions and 870,163 new addresses seen, surpassing the numbers of Arbitrum, another prominent layer 2. Jesse Pollak, the co-founder of Coinbase, believes that Base will play a significant role in bringing a billion users on-chain and expects this to happen by 2030. He emphasizes the need for lower costs, better wallets, and improved identity infrastructure to facilitate mainstream adoption. Pollak also discusses the speculative phase of crypto and the importance of transitioning to utility-focused applications. He explains why Coinbase chose to build its layer 2 on the Ethereum blockchain and highlights the progress made in solving scalability issues through layer-2 rollups. Despite some critics questioning the seriousness of social media DApps like Friend.tech, Pollak believes that social apps will continue to be a crucial part of the blockchain ecosystem. He mentions Blackbird, a customer engagement platform for restaurants built on Base, as an exciting DApp worth exploring. The search for blockchain’s “killer app” is still ongoing.
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