Coinbase Launches ‘Base’ Mainnet: What You Need to Know
Coinbase, one of the leading cryptocurrency exchanges, has launched ‘Base,’ the first decentralized blockchain mainnet by a publicly traded company. Here are the key points:
– ‘Base’ mainnet is now accessible to the public, offering over 100 dapps and service providers.
– Users can enjoy reduced transaction costs and faster transaction speeds compared to Ethereum.
– ‘Base’ has collaborated with various crypto initiatives, including DeFi protocols, wallets, bridges, oracles, and analytics providers.
– Coinbase aims to collect fees from operating its own blockchain and generate revenue from applications developed on it.
– In Q2, Coinbase recorded total revenues of $707.9 million, surpassing market expectations.
Coinbase’s Future Plans and Vision
– Coinbase CEO Brian Armstrong’s 2016 master plan envisioned driving the company’s fourth phase with decentralized apps (dapps) to touch a billion lives.
– Coinbase went public in April 2021 with a direct listing on the Nasdaq.
– Coinbase aims to move beyond speculation and integrate crypto into every aspect of daily life.
– ‘Base’ mainnet has launched an “onchain summer” event, highlighting partner dapps in digital art, music, and gaming.
– Users can create a special NFT to commemorate the inauguration of the Base mainnet.
Coinbase Faces SEC Lawsuit
– Coinbase has appealed to dismiss the lawsuit filed by the U.S. Securities and Exchange Commission, alleging a breach of federal securities regulations.
Hot Take
Coinbase’s launch of the ‘Base’ mainnet marks a significant milestone for the company and the crypto industry. By offering a decentralized blockchain platform, Coinbase aims to revolutionize the way people interact with cryptocurrencies and pave the way for widespread adoption. Despite the ongoing SEC lawsuit, Coinbase remains committed to its vision of integrating crypto into everyday life and expanding its revenue streams. The future looks promising for Coinbase and the growth of the crypto ecosystem.
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