Coinbase launches Base, its own Layer 2 on Ethereum

The Coinbase mystery finally revealed: the crypto platform launches Base, its own Layer 2

Unidentified crypto object – While thecrypto winter falls on our wallets and the boredom of sometimes bleak news takes hold of social networks, the crypto industry was in turmoil yesterday. The cause ? A mysterious announcement coming today for Coinbase launching the Base its Layer 2 testnet. A little bit of warmth in this icy era.


The Coinbase Mystery

Last night, Brian Armstrong’s crypto platform teased an upcoming announcement for February 23, 2023. You are aware that this kind of announcement, parachuted on Twitter, then gives free rein to ideas and interpretations of each other.

Coinbase teaser – Source: Twitter

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The Layers 2 … this is the Base

We therefore learn today after a few hours of waiting the great news so longed for. Coinbase will launch the Basic testnet : A Layer 2 on Ethereum. The goal? Optimize network fees and provide developers with the ability to build decentralized applications (dApps).

“Base is a secure, low-cost, and developer-friendly Ethereum L2 designed to bring the next billion users to the web3. Start building the core testnet today and stay tuned for the next mainnet launch.»

Base, using Optimism technology, thus allowing the Coinbase exchange to create a decentralized ecosystem and tackle DeFi by providing an ideal playground for developers. However, the crypto platform confirms that it does not currently intend to “issue a new token”.

This news bodes well for Brian Armstrong’s exchange, which despite struggling during this crypto winter continues to grow. The platform deplored, in fact, just yesterday, results weighed down by the fall of cryptocurrencies.

Cryptos and blockchain technology are still young and volatile sectors. Any investment involves risk. As a well-informed investor, have you done your own research and decided to take the plunge? Current prices are an opportunity to add a few satoshis to your wallet! To do this, register on eToro (commercial link).

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