Coinbase Launches Ethereum Layer 2 Network ‘Base’ Built on the Open Source Optimisim Stack

Coinbase, the popular cryptocurrency exchange, recently announced the launch of Base, an Ethereum Layer 2 (L2) network designed to offer a low-cost, secure, and developer-friendly platform for building decentralized applications (dApps) on-chain.

The network aims to be an open ecosystem where anyone can build and serve as a home for Coinbase’s on-chain products. According to the company, the goal of Base is to “make on-chain the next online” and onboard one billion users into the crypto-economy.

Base is incubated inside Coinbase, utilizing the company’s decade of experience building crypto products. Coinbase is building Base on Optimism’s OP Stack to support the path towards decentralization, with the vision of creating a standard, modular, rollup-agnostic Superchain powered by Optimism.

Coinbase made clear via the announcement and in their Twitter bio that they have no plans to issue a new network token. Gas fees will be paid in the native $ETH token, unlike many layer-2 scaling solutions.

The company sees Base as a critical component of its secret master plan – phase 3.5 – creating an open financial system that increases global economic freedom. Developers can begin building on Base today at base.org.

Coinbase is also offering two free-to-mint NFTs following the launch of Base. The first, “Base, Introduced,” is a commemorative NFT that celebrates the initial launch of Base. The mint limit is one per address, freely mintable on Zora through Sunday at midnight EST.

The other is exclusive to Base’s Mirror newsletter subscribers to celebrate the historic collaboration between Base and Optimism. The BASEd and Optimistic NFT commemorates the Superchain and the decentralized future of the crypto-economy.

To learn more about the launch of Base, visit base.org