In an effort to encourage the creation of millions of new decentralized apps, Coinbase has released the mainnet for Base, their Ethereum layer-2 network.
In an effort to encourage the creation of millions of new decentralized apps, Coinbase has released the mainnet for Base, their Ethereum layer-2 network.
The debut comes with a month-long event dubbed Onchain Summer. Base has generated a lot of excitement and currently has more than $142 million in total value locked in the ecosystem.
The launch of Base aims to bring more applications for blockchain technology beyond simply cryptocurrencies, as part of Coinbase's more ambitious goal to bring millions of users on-chain.
According to Jesse Pollak, senior director of engineering at Coinbase, tokens "distort" what is being done on a network. Hence Coinbase has no intentions to bring any native tokens to Base, unlike other layer-2 networks.
By not issuing a token, Coinbase may also be avoiding regulatory troubles given the intense legal pressure it is already under from the Securities and Exchange Commission, which has filed a lawsuit against the company for allegedly acting as an unregistered securities exchange.
