Coinbase: the Ethereum layer2 Base is now officially open to the public
Popular crypto-exchange Coinbase has made the launch of Base, its Ethereum layer2, official. To celebrate the event, Onchain Summer was organized.
Main Breakdowns:
- Coinbase has officially opened its Ethereum layer2: Base to the public.
- The launch of Base was celebrated with Onchain Summer.
- Base network now has more than 100 dApps and service providers.
- Users can explore Base-based dApps with faster transactions and lower fees.
- Onchain Summer will promote Base’s mainnet partner dApps in the areas of digital art, music, and gaming.
Coinbase and the journey of the Ethereum layer2: Base
Coinbase introduced the Base testnet in February 2023 to provide a secure and low-cost solution for developers to build dApps. The Base network announced its roadmap to the mainnet in May, and after successfully passing 3 steps, it is now open to the public. Base uses Optimistic Rollup technology to reduce transaction fees and increase scalability.
Hot Take: Shares of COIN are still falling
Despite the successful launch of Base, Coinbase’s stock (COIN) is experiencing a decline. Currently worth $84.34, it has decreased by 4.20% from yesterday and 5.44% from the last 5 days. The decline began after the release of Coinbase’s financial and economic data. COIN’s peak in the last year was in mid-July at $110.
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