Base is an L2 Chain created by the team at Coinbase.
It's built on top of the Ethereum chain and is intended to help solve scalability and cost issues associated with the chain.
Below you'll find a number of the best dApps and propjects that support Coinbase's Base chain.
Proof-of-stake
Base is the new chain offered by Coinbase.
It's an L2 chain built on top of Ethereum.
Coinbase had previously considered launching its own blockchain twice, but opted against it due to worries that it would create a siloed ecosystem that wouldn't be interoperable with the rest of the crypto universe.
Honestly, this is one of the biggest issues with blockchain right now. The silos and lack of interoperability are huge issues.
Optimism's OP Stack has provided the necessary foundation for the Coinbase Base Chain to launch, which includes scalability and interoperability so Coinbase can take part in the existing Ethereum-based network.
The Base chain is designed as an alternative layer which will be used to speed up transactions and reduce fees for users using Coinbase products.
This means Coinbase users now have access to faster transactions and cheaper fees through this new solution, helping both traders and developers make their transactions even more cost-effective than before.
It's still far too early to talk about this.
The chain itself has just been properly announced. So knowing which apps are the best is too early. We'll need to wait to see who will support Base chain and then we can understand the value they offer.
It's a safe bet that a lot of the most popular dApps out there will be building some functionality and support for Base into their projects.
Base Chain has made it clear that they will not be creating their own token for the platform.
This is likely a disappointing result for many users who were hoping to receive a BASE token upon sign up or after completing certain tasks.
Not only would it have been an attractive incentive for users to join the network, but it could have also driven further adoption.
Despite this news, however, the network should still remain viable and successful.
The platform allows users to pay ether (ETH) as gas fees which is sure to remain a popular choice among users and investors.
Additionally, Base Chain offers some of the fastest transaction times with one of the lowest latency periods on the market - undoubtedly driving even more appeal towards the platform and its services.
Coinbase's decision to launch its Layer-2 solution is a strong endorsement of the Ethereum network and DeFi protocol.
Despite the similarity in design between Base and BSC Chain, the two offerings have their own set of distinct features and benefits.
Although Coinbase customers are generally less familiar with DeFi than those of Binance, Coinbase offers an array of resources to ease customers into Web 3.0 and DeFi technologies.
All in all, Coinbase's entrance into this arena can further solidify Ethereum’s footing as the dominant platform for DeFi applications.
All told, it is clear that the layer 2 solution provided by Coinbase will continue to close the gap between centralized finance services and Decentralized Finance protocols even further.
Coinbases push into DeFi solutions gives more credibility to Ethereum as a prominent baselayer protocol while also providing new opportunities for traditional financial players to enter the space.
It remains to be seen if this will spark increased interest in decentralized solutions, but regardless it has highlighted just how far widespread adoption progress we have made as a blockchain community over time.
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