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On Aug. 9, Coinbase, the cryptocurrency exchange, will release its Base layer-2 platform for public access without restrictions. Before then, an Ethereum bridge will also be launched. 
Coinbase’s protocols lead Jesse Pollak said, “Base’s bridging functionality is up and running, and the mainnet will be open to everyone by Aug. 9.”&nbsp; 
The newly established bridge allows users to transfer tokens between Ethereum and&nbsp;<a href="https://crypto.news/coinbase-launches-ethereum-l2-network-base/" rel="noopener noreferrer nofollow">Base</a>. 
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 Base is now open for bridging Base opens for everything on August 9 We’re helping throw an onchain festival to celebrate ɪᴛ'ꜱ ᴏɴᴄʜᴀɪɴ ꜱᴜᴍᴍᴇʀ 🟡<a href="https://t.co/p8KTcnkbbx" target="_blank" rel="noopener noreferrer nofollow">https://t.co/p8KTcnkbbx</a>— Base 🛡️ (@BuildOnBase) <a href="https://twitter.com/BuildOnBase/status/1687088084704509952?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 3, 2023</a> 
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Base is a layer-2 platform that offers a versatile alternative to Ethereum with reduced transaction costs. The network is designed to cater to a broad range of users, from typical Coinbase users to defi enthusiasts.&nbsp; 
The Base mainnet was launched on Jul. 13 for developers. However, many users could bridge assets to the network via portal proxy contracts and other unofficial routes, trading new meme coins debuting on Base. 
 You might also like: <a href="https://crypto.news/crypto-twitter-believes-sbf-secretly-backs-bald/" rel="noopener noreferrer nofollow"> Crypto Twitter believes SBF secretly backs BALD </a> 
Early this week, an anonymous developer&nbsp;<a href="https://crypto.news/bald-meme-coin-surges-40000-in-48-hours-and-then-plunges/" rel="noopener noreferrer nofollow">rugged</a>&nbsp;BALD, a meme coin on Base. Shortly after, Base’s decentralized exchange, LeetSwap, was hacked.&nbsp; 
Coinbase is moving towards a more systematic approach as it moves into a new phase. They’re starting “<a href="https://onchainsummer.xyz/" target="_blank" rel="noopener noreferrer nofollow">Onchain Summer</a>,” a month-long event featuring collaborations with launch partners like Coinbase, Atari, OpenSea, Showtime, Optimism, Rainbow Wallet, Manifold, Parallel, and Friends With Benefits.&nbsp; 
Non-fungible token (NFT) functionalities will be integrated into the network starting Aug. 9, and users will also be free to secure cb.id crypto usernames on the Coinbase Wallet. 
 Read more: <a href="https://crypto.news/coinbases-layer-2-network-to-face-transaction-monitoring/" rel="noopener noreferrer nofollow"> Coinbase’s layer-2 network to face transaction monitoring </a>

Coinbase to release Base layer-2 for public access

crypto.news

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