On Thursday, Coinbase made an announcement regarding its testnet launch of Base, a new Ethereum Layer 2 (L2) network that aims to offer users a “secure, low-cost, developer-friendly” approach to creating decentralized apps (dApps) onchain. With Base, the primary focus of Coinbase is to create a “secure bridge” between L2 and L1, as well as other L1 ecosystems such as Bitcoin and Solana. This bridge is designed to provide an easy-to-use onchain experience while also affording access to Coinbase’s ecosystem and products on other chains. The ultimate goal of this endeavor is to create a seamless gateway for Coinbase users to access the broader cryptoeconomy, making web3 more accessible to a greater number of people.
1/ 🔵 We’re excited to announce @BuildOnBase.
Base is an Ethereum L2 that offers a secure, low-cost, developer-friendly way for anyone, anywhere, to build decentralized apps.
Our goal with Base is to make onchain the next online and onboard 1B+ users into the cryptoeconomy. pic.twitter.com/RmwZFJzGGs
— Coinbase (@coinbase) February 23, 2023