Base, the Coinbaseย Cryptoย exchange layer-2 network, is progressing along its roadmap in preparation for launch to mainnet.
On May 24, Base shared its launch criteria as the network readies for deployment. โBase is gearing up for mainnet with safety and security as top priorities,โ it stated.
Inย addition, there was a reminder that there would be no Base cryptoย token launch. Nonetheless, that didnโt stop so- wasย known โdegensโ from pumping the unrelated BASE cryptoย token when the network was announced earlier this year.
Base Eyeing a Billion Users
The Base testnet has been live since February as the network is upgraded and battle-tested in preparation for full launch.
Base is an Ethereumย (ETH) layer-2 network built on the Optimism OP stack. Furthermore, the aim is to provide a secure and low-cost way for developers to build decentralized applications on-chain. Coinbaseย Cryptoย exchange has grand ambitions for Base in its mission to โincrease economic freedom and opportunity around the world.โ
โTo advance this purpose, Base is supplying a platform to onboard theย following Million developers and Billion users into the cryptoeconomy.โ
The testing phase has seen Base used for gaming, Non-Fungibleย Tokenย (NFTs), infrastructure, developer tooling, wallets, security, Decentralizedย Finance, oracles, analytics, bridging, payments, DAOs, and social applications.
It touted a number of use case examples. This includes Blackbird, a restaurant loyalty platform, the NFT-based trading card game Parallel, and the Blockchainย Tech development toolkit Thirdweb.
It has completed two of the 5 criteria listed for launch. These are completing a successful Regolith hard fork in testnet and a successful infrastructure review with the OP Labs team.
The outstanding items include the Optimism Bedrock upgrade, internal and external audits with no critical severity issues, and testnet stability.
Furthermore, there will be a โGenesis Windowโ on the path to mainnet. This is a period for developers to deploy decentralized applications on Base.
The main piece of information the update omitted was a timeframe for the mainnet launch. Nonetheless, it did state that this was not a priority.
โOur most important priorities are to secure the safety and security of the network, followed by clear communication so developers can prepare. Timely mainnet deployment ranks third.โ
Coinbaseย Cryptoย exchange Branching Into Europe
In related news, reports have resurfaced that Coinbaseย Cryptoย exchange has partnered with Bitpanda. The Austrian-based cryptocurrency exchange and trading platform will work with Coinbaseย Cryptoย exchange to connect its clients to banks in Europe.
The move is the latest effort by Coinbaseย Cryptoย exchange to put more distance betwixt it and the wrath of Unitedย States regulators.
