Coinbase announces Base

Published: Feb 23, 2023

Following on from yesterday's post about Coinbase's cryptic tweet teasing an announcement Coinbase has now revealed 'Base'.

Described as an ETH Layer 2 that offers a secure, low-cost, developer-friendly way for anyone, anywhere, to build dApps. It's open-source and powered by Optimism.

Coinbase is clear that there is no planned token unpinning this and will use Ethereum for fees.

Coinbase goal with Base is to make on-chain the next online and onboard 1B+ users into the cryptoeconomy. With fierce competition from established players, it will be interesting to see what makes Base unique.

At present, it feels more bullish for Ethereum rather than Coinbase.

More technical details can be found here at https://base.mirror.xyz

The network is currently live on a testnet available at https://base.org/