The official announcement said, “We believe that decentralization is critical to an open cryptoeconomy. That’s why we will be deploying Base as the second L2 on the open-source OP Stack.”
Crypto exchange Coinbase aims to launch Base, its layer-2 network, for general users on August 9.
Created in collaboration with Optimism (OP), Base is an open-source Ethereum (ETH) L2 scaling solution that makes it easy for users to build, test and deploy dapps and smart contracts.
The decentralized apps built with Base can integrate with several Coinbase products, including fiat on-ramps. Moreover, Base allows creators to deploy their smart contracts via Hardhat, Remix, and other powerful tools.
In its blog post, Coinbase cautioned users against scam tokens by stressing that the exchange will not issue a new token for Base. The firm added,
"Be aware that scammers may be offering or sending fake Base tokens."
Meanwhile, Coinbase is expected to report its earnings for the second quarter of 2023 this week, with the analysts at FactSet expecting a decline in the exchange's quarterly revenue and trading volume.
Written by
Ayush Pande
Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.
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