• Coinbase announced the launch of their Ethereum layer-2 network, “Base.”
• The goal of Base is to make it easier and more secure for users to access Ethereum L1, other L2s, and other L1 ecosystems.
• Shortly after the news went live, the OP token soared by 6%.
Coinbase Launches ETH Layer-2 Network
Coinbase has unveiled its own Ethereum layer-2 network called „Base.“ It is built on the MIT-licensed OP Stack in collaboration with Optimism. The main goal of Base is to provide easy and secure access for users to access Ethereum L1, other L2s, as well as other L1 ecosystems similar to Solana. Furthermore, Coinbase will be joining Optimism as a core dev on the open-source OP Stack.
Goals of Base
The primary focus of Base is making it interoperable with other chains and supporting many chains across its products offering. Additionally, Coinbase aims to lure millions of new crypto users in with Base which boasts full EVM equivalence at a fraction of cost. This will also host a myriad of Coinbase’s on-chain products and position itself as an open ecosystem for millions of new decentralized apps.
OP Token Price Surge
Shortly after the announcement went live, the OP token saw a price surge by 6%. The asset has since seen further growth climbing over 20% on a daily scale and trading above $3 at present time.
Coinbase’s launch of their ETH layer-2 network based on Optimism shows that they are looking forward towards building an open ecosystem for blockchain technology with increased interconnectivity between different networks and blockchains so that users can have easy access not just to Ethereum but also other blockchains like Solana etc.
• Coinbase launched their own Ethereum layer- 2 network called “Base” which is built on MIT licensed OP stack in collaboration with Optimism.
• The main goal of this project is to provide easy and secure access for users to access Ethereum L1, other L2s as well as other L1 ecosystems such as Solana etc.. • Shortly after the announcement went live, OP token saw a price surge by 6%.