This evening, the American encrypted trading platform Coinbase announced the launch of the Ethereum layer 2 network Base test network based on OP Stack.
Base is a secure, low-cost, developer-friendly Ethereum L2 aimed at bringing the next billion users to web3. Coinbase has no plans to issue a new token for Base, and will still use ETH as the native GAS token. To commemorate this event, Coinbase launched a commemorative NFT - "Base, Introduced". All addresses can be minted for free, and the total amount of this NFT is unlimited for a limited time(Click to jump to the MInt website). In addition, Coinbase announced the launch of the Base Ecosystem Fund, which invests in and supports early-stage projects based on Base that meet its investment criteria.
Optimism Official FollowsAnnounceSaid that Optimism will be upgraded for positioning, and OP will be upgraded to a multi-chain L2 platform based on OP Stack. In this cooperation with Coinbase, Base is a new L2 blockchain based on OP Stack. Base will return a portion of transaction fee revenue to the Optimism Collective treasury. In the near term, this collaboration will work on upgrading the Optimism mainnet, Base, and other L2s to the initial hyperchain structure with shared bridging and ordering.
secondary title
The following is an introduction to the Base project from the Coinbase blog, compiled by Odaily:
Today, we are excited to announce the launch of the Base testnet, an Ethereum L2 network that provides everyone with a secure, low-cost, developer-friendly way to build decentralized applications or on-chain "dapps". Base's goal is to bring billions of users to the crypto market. To achieve this goal, Base will serve as a home for products on the Coinbase chain and an open ecosystem that anyone can build.
We are incubating Base inside Coinbase, leveraging our past decade of experience building crypto products, with plans to gradually become more decentralized over time. We have no plans to issue a new network token. Developers can now go to base.org to start building projects on Base.
What is Base? We're making Base one of the best places for developers to build on-chain.
Secured by Ethereum: Base has the security and scalability needed to support decentralized applications. It leverages Ethereum's underlying security and Coinbase's best practices, allowing you to safely and gracefully enter Base from Coinbase, Ethereum L1, and other interoperable chains.
Empowered by Coinbase: Base makes it easy to build decentralized applications with access to Coinbase's products, users, and tools. Seamless Coinbase product integration, simple fiat on-ramp, and powerful acquisition tools enable developers to serve over 110 million verified users and access $80 billion worth of assets on platforms in the Coinbase ecosystem.
Powerful and Inexpensive: Base provides full EVM equivalence at a very low cost and is committed to advancing the development of developer platforms. Set up gas transactions for your Dapps with a simple developer API for account abstraction, and securely build multi-chain applications with easy-to-use bridges.
Open source: The goal of Base is to be decentralized, permissionless, and open to anyone to create a standard, modular, rollup agnostic hyperchain powered by Optimism. We will be joining Optimism as core developers of the open source OP Stack and will work to create a thriving community of other developers.
First, Base developers can use our RPC testnet endpoint to build on Base, or choose from node node providers: QuickNode, Infura, and Blockdaemon.
Why did we build Base? To bring billions of users into the crypto economy, dapps need to be easier, cheaper, and more secure to interact with. In order for this to happen, we need to make it easier for developers to build these dapps. In our process of building Base, we clearly follow the following core principles:
（1 ）A bridge,not an island (build bridges, not islands)
We are designing Base to provide simple, secure access to Ethereum L1, other L2s, and other L1 ecosystems such as Solana. We encourage them to start with Base and go anywhere: we see Base as a "bridge" for users to enter the crypto-economy. This is an easy-to-use default on-chain experience that provides access to products on other chains. We will also continue to support as many blockchains as possible in Coinbase products as Base builds interoperability with other chains.
(2) open source
The underlying software of the global crypto economy should be fully open source and freely available. Base, in partnership with Optimism, is built on top of the MIT-licensed OP Stack. We joined as a second core development team working on the OP stack to make sure it was a public product available to everyone. We see this toolkit as an open platform where anyone can contribute, fork, and extend to help scale the cryptoeconomy.
(3) Decentralization
Decentralization is essential for the crypto-economy to remain open, global, and accessible to all. While we have started to incubate Base within Coinbase, we are firmly committed to moving towards full decentralization in the coming years. With the increased resources Coinbase brings to OP Stack, we are confident that Base will move from Phase 0 to Phase 1 rollup in 2023 and complete Phase 2 rollup in 2024.
(4) For all
Base's vision is to be an open ecosystem, seeded with Coinbase products, users, and assets. We will work with the wider community to bring Base to life. We are excited to have a vibrant community who will contribute to making Base a strong ecosystem.
Base Ecological Fund. We also announced the Base Ecosystem Fund, which invests in and supports early-stage projects based on Base that meet our investment criteria. If you are interested, please fill out the form here.
What's next? Our focus is to ensure the success of the testnet. In the coming weeks, we will share our mainnet roadmap and provide additional developer resources for building on Base.
