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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Coinbase launches Base L2 network in collaboration with Optimism to build the Ethereum scaling ecosystem.
Coinbase Launches L2 Network Base: Collaborates with Optimism to Create a New Paradigm for Ethereum Scaling
Coinbase officially announced the launch of its own L2 network Base, which is an optimistic rollup solution built on the Optimism OP Stack technology. Base will serve as an open, permissionless network, providing users and developers with a low-cost, high-speed Ethereum scaling experience.
As the second core contributor to the OP Stack, Coinbase will work closely with Optimism to jointly promote the development of scalability technology. A portion of the transaction fees from Base will flow into the Optimism ecosystem to fund public goods. In addition, Coinbase will launch a native ecosystem fund for Base to support projects built on Base.
The launch of Base marks Coinbase's official entry into the Layer 2 arena. As a publicly traded company, Coinbase has chosen to build its L2 network on Ethereum rather than launching an independent public chain, reflecting its strong commitment to the Ethereum ecosystem. Base will provide a convenient on-chain experience gateway for Coinbase's large user base and is expected to drive more traditional users into the Web3 world.
However, due to regulatory constraints, it is unlikely that Base will issue tokens in the short term. The lack of token incentives may somewhat restrict its ecological development. However, Coinbase's strong brand effect and user base are still expected to drive Base to become one of the important Layer 2 networks.
For Optimism, Coinbase's involvement is undoubtedly a significant benefit. This not only validates the technical strength of the OP Stack but also brings more development resources to Optimism. As more projects join the OP Stack camp, a strong ecosystem network effect is expected to form in the future.
Overall, the launch of Base reflects the ongoing heat in the Ethereum Layer 2 space. As a heavyweight player, Coinbase's entry will inject new vitality into the entire industry, promoting further development of scaling technologies and application scenarios.