Coinbase Launches Layer-2 Network “Base” Aimed at Accelerating Web3 Adoption

Base aims to accelerate web3 adoption by enhancing scalability and reducing fees on Ethereum

TL;DR: Coinbase has officially launched the mainnet for its new layer-2 scaling solution Base, built using Optimism’s OP stack. With over 100 dApps and providers onboard, low fees, and fast transaction speeds, Base aims to spur wider crypto adoption by improving usability for builders and users alike. The launch kicks off a multi-week “Onchain Summer” event celebrating web3 art, culture, gaming, and music.

Coinbase has officially launched the mainnet for its new layer-2 scaling solution Base, built using Optimism’s OP stack. With over 100 dApps and providers onboard, low fees, and fast transaction speeds, Base aims to spur wider crypto adoption by improving usability for builders and users alike.

Base is an Ethereum layer-2 network built by Coinbase using Optimism’s OP stack and rollup technology. It aims to make onchain apps faster, cheaper, and easier to use compared to Layer 1 Ethereum. At launch, over 100 dApps, wallets, bridges, oracles have already been integrated into the Base ecosystem.

The launch of the mainnet also kicks off a multi-week “Onchain Summer” event to drive further adoption and highlight various web3 applications. Users can now mint NFTs and explore DeFi ecosystems like Uniswap and Aave on Base. Coinbase has no plans to launch a native token for Base, wishing to avoid speculation and maintain focus on developers building on the network.

A core goal of Base is to “bring the next billion users onchain” via a seamless user experience. Integrations with Coinbase’s existing product ecosystem help lower barriers for mainstream users to start accessing crypto applications. The range of apps at launch across gaming, social, music, and art already showcases the potential of web3 to a wider audience beyond trading and DeFi.

Ongoing decentralization efforts by the Base team include exploring innovations like Espresso’s sequencer and zkEVM integration. This aligns with Coinbase’s aim to support an open-source ethos and encourage contributions from the community. It also fits the modular, customizable nature of the OP stack that Base is built on.

The launch of Base mainnet represents a major milestone for Coinbase’s vision to drive mainstream crypto adoption. By providing a fast, low-cost layer-2 environment optimized for usability, Base removes friction for both builders and users. While work remains to fully decentralize the network, Base’s ability to immediately leverage integrations with Coinbase’s ecosystem unlocks unique potential to demonstrate web3’s possibilities to a wider audience beyond cryptocurrency enthusiasts.