Coinbase launches Layer2 Base, a new bridge connecting CeFi and Decentralized Finance.

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Coinbase Launches New Layer2 Base: Crypto Exchange Moves Towards Web3

Coinbase announced the launch of a new Layer 2 network called Base, which is an optimistic rollup solution based on Optimism. As part of the Ethereum ecosystem, Base aims to provide a low-cost and high-speed on-chain experience for Coinbase's 110 million users.

Bankless interpretation of the new Layer2 Base: A new challenge from Coinbase to Binance?

Base will launch its mainnet within two months, initially operated by Coinbase as the sole sequencer. However, Coinbase has committed to gradually achieving decentralization and will upgrade Base to a non-training round Stage 2 rollup by the end of 2024.

Bankless interpretation of the new Layer2 Base: A new challenge from Coinbase to Binance?

As one of the core contributors to the OP Stack, Coinbase will work closely with Optimism to develop Base. This collaboration will accelerate the development of the OP Stack and lay the foundation for achieving atomic composability in the future.

Bankless Interpretation of the New Layer2 Base: A New Challenge from Coinbase to Binance?

For Coinbase, Base represents an important step for the company to expand into the Web3 space. It can provide existing users with richer on-chain services while also attracting new users into the encryption ecosystem. However, due to regulatory restrictions, it is unlikely that Base will issue tokens in the short term.

Bankless interpretation of new Layer2 Base: A new challenge from Coinbase to Binance?

This move is a significant boon for the Optimism ecosystem. Coinbase's involvement validates the value of the OP Stack and will inject new momentum into its development. As more projects adopt the OP Stack, its network effects are expected to strengthen further.

Bankless Interpretation of the new Layer2 Base: A new challenge from Coinbase to Binance?

Although the launch of Base is exciting, its success still faces many challenges. In addition to regulatory pressures, persuading users to transition from traditional finance to Web3 is also a significant challenge. Coinbase needs to provide a compelling value proposition to drive mass adoption.

Bankless interpretation of the new Layer2 Base: Is Coinbase launching a new challenge to Binance?

Overall, the launch of Base reflects the ongoing trend of the encryption industry penetrating into the mainstream. As a bridge connecting CeFi and DeFi, it has the potential to bring Web3 experiences to a broader user base. However, its long-term impact remains to be seen.

Bankless interprets the new Layer2 Base: A new challenge from Coinbase to Binance?

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ServantOfSatoshivip
· 17h ago
Still waving the banner of Decentralization, hehe
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TopBuyerBottomSellervip
· 17h ago
Renewed the trap purchase again.
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DecentralizedEldervip
· 18h ago
Centralized and centralized, really know how to play.
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MevHuntervip
· 18h ago
If you can't beat them, merge with them.
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LiquidationWatchervip
· 18h ago
Cut Loss deep trap search for grass
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BtcDailyResearchervip
· 18h ago
This wave is a bit big.
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CafeMinorvip
· 18h ago
Which company has the best homework copying technique?
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