The major US crypto exchange has launched the mainnet of its Layer 2 blockchain Base, allowing developers to build applications.
Coinbase, one of the world’s largest cryptocurrency exchanges, has launched the mainnet of its Layer 2 blockchain Base for developers. This allows developers to start deploying applications on the scalable and secure platform.
Base is a rollup network built using Optimism’s OP Stack. It aims to reduce Ethereum network congestion and high fees while maintaining compatibility with the Ethereum mainnet.
Security Audits and Developer Tools
The Base team said they conducted thorough security audits with Coinbase protocol experts and over 100 external security researchers before the mainnet launch. This was done to ensure the security of the network and OP Stack.
Various developer tools are now available on the Base mainnet, including:
- Node providers
- Block explorers
- Data indexers
This allows developers to easily build applications on the Base network.
No Base Token
The Base team reiterated that they do not plan to issue a native Base token. They believe the network’s value comes from its scalability and security features, not speculation.
By launching the Base mainnet, Coinbase aims to provide a robust Layer 2 scaling solution for the Ethereum ecosystem. Base utilizes an established stack in Optimism’s OP Stack and aims to offer a fast and cheap alternative for transactions and applications.
The thorough security audits and availability of developer tools should help bootstrap the Base ecosystem. However, the lack of a native token may limit user incentives to utilize the network.
In summary, the Base mainnet launch represents an important milestone for Coinbase’s Layer 2 ambitions. The network now provides a fully decentralized and live infrastructure for developers and applications. But its long-term success will depend on usability, fees, and the value proposition it offers to users.