At the forefront of these advancements is Base, a Layer 2 blockchain solution built on Ethereum and developed by Coinbase.This relationship among Base, Ethereum, and Coinbase highlights a strategic partnership between a major crypto exchange and a leading blockchain, ultimately aimed at building a scalable and secure foundation for the next generation of decentralized applications (dApps).
What is Base🔵?
Base is a Layer 2 blockchain network developed by Coinbase, one of the largest cryptocurrency exchanges in the world. Base uses the "OP Stack" a set of modular tools created by Optimism, another Layer 2 solution on Ethereum. This provides Base with increased transaction speed and lower costs than Ethereum’s mainnet, which is known for high gas fees during times of high traffic. Coinbase envisions Base as an accessible platform for builders and even established companies to build their decentralized applications and provide solutions to our local problem through an Onchain way.
How does"Ethereum"connects with Base🔵
Ethereum is the Layer 1 blockchain that serves as the foundation for Base. Base offer an alternative by building on Ethereum’s infrastructure while providing a smoother and more cost-effective user experience. Ethereum’s role in the Base network is crucial, as all Base transactions are ultimately settled on Ethereum. This process ensures that while transactions happen faster and cheaper on Base 🔵
Coinbase Vision for Base 🔵
Coinbase motivation behind creating Base is rooted in its ambition to increase the adoption of blockchain technology. they aim to drive innovation in the Web3 space by enabling a more accessible blockchain development environment. With Base, Coinbase seeks to lower the entry barriers for Builders looking to build on Ethereum, effectively democratizing access to blockchain technology. By supporting a Layer 2 network like Base, Coinbase also positions itself as a key player in decentralized infrastructure. With the goal of becoming a more decentralized entity, which could ultimately benefit the ecosystem as a whole.
In conclusion
Base aims to onboard people to Web3 by providing a decentralized and trustworthy platform where builders but developers and non developers can build and earn in the base ecosystem
