Coinbase to Release Base Layer-2 Platform and Ethereum Bridge
On Aug. 9, Coinbase will launch its Base layer-2 platform for public access, along with an Ethereum bridge. Jesse Pollak, Coinbase’s protocols lead, confirmed that the bridging functionality is already operational. The Base platform provides a cost-efficient alternative to Ethereum and is designed to cater to a wide range of users, from typical Coinbase customers to defi enthusiasts. NFT functionalities will be integrated into the network on Aug. 9, and users can also secure cb.id crypto usernames on the Coinbase Wallet.
Key Points:
- Coinbase’s Base layer-2 platform and Ethereum bridge will be available to the public on Aug. 9.
- The Base platform offers reduced transaction costs compared to Ethereum.
- Base is designed to accommodate both typical Coinbase users and defi enthusiasts.
- NFT functionalities will be integrated into the network on Aug. 9.
- Users can secure cb.id crypto usernames on the Coinbase Wallet.
Coinbase is transitioning into a new phase with a more systematic approach. They will be hosting “Onchain Summer,” a month-long event featuring collaborations with launch partners such as Atari, OpenSea, Showtime, and more. The event aims to celebrate the launch of the Base platform and engage the crypto community. Despite recent incidents such as the hacking of Base’s decentralized exchange, Coinbase is committed to providing innovative solutions in the crypto space.
Hot Take: Coinbase’s release of the Base layer-2 platform and Ethereum bridge demonstrates their commitment to expanding access and functionality within the crypto ecosystem. By offering a cost-efficient alternative to Ethereum and integrating NFT functionalities, Coinbase aims to cater to a broader range of users and provide new opportunities for innovation and collaboration.
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