Coinbase has launched its new Ethereum Layer 2 (L2) network called Base, which offers a secure, low-cost, and developer-friendly platform for building decentralized apps or ‘dapps’ onchain.
Base is incubated within Coinbase, utilizing the last decade of experience building crypto products. However, the chain will be progressively decentralized over time, and there are no plans to issue a new network token. Developers can start building on Base today at base.org.
Base offers full EVM equivalence at a fraction of the cost and enables gasless transactions for dapps with easy developer APIs for account abstraction. Additionally, it offers access to Coinbase’s products, users, and tools. It is built on the MIT-licensed OP Stack, in collaboration with Optimism, and aims to create a standard, modular, rollup agnostic Superchain powered by Optimism.
Core principles of the Base platform include being a bridge for users into the cryptoeconomy, open-source, decentralized, and for everyone. Coinbase envisions Base as an easy-to-use default onchain experience with access to products on other chains.
Base developers can build using the RPC testnet endpoint or choose from Node providers: QuickNode, Infura, and Blockdaemon. Coinbase also announced the Base Ecosystem Fund, which invests in and supports early stage projects building on Base that meet Coinbase’s investment criteria.
This is just the beginning of the journey for Base, and Coinbase is excited about the community already building alongside them. Stay tuned for the upcoming mainnet launch.