December 7, 2023

Coinbase has officially become the first publicly traded company to launch its own decentralized blockchain, called Base. Indeed, the network’s testnet had been launched in February, with a release for developers arriving in July. Now, the “on-chain summer” event has started with the arrival of the network mainnet.

The offering is set to feature more than 100 dApps and varying service providers as part of the base ecosystem. Moreover, users of the new network will notice lower transaction feeds and speeds than on Ethereum, Coinbase’s lead for protocols, Jesse Pollak, stated.

Also Read: Coinbase Planning to Repurchase $150 Million of its $1 Billion Bond

Coinbase’s Base is Now Open to the Public

Following its testnet launch in February, and a developer release in July, users are now able to try Coinbase’s Base network mainnet which is officially open to the public. Indeed, the development has marked the introduction of a network that could become a viable option in the space.

The Base Network has seen the integration of a host of different projects in the crypto sector, including decentralized finance protocols, wallets, bridges, and more. Subsequently, the efforts of the various releases are now able to be explored by users.

Source: Coinbase

Also Read: How to Profit From Coinbase’s Layer-2 Chain, Base

The new network, backed by Coinbase, is a roll-up network developed on Optimisms IO Stack. Indeed, it is a scaling solution that will process transactions on Ethereum. Subsequently, its development will make it more affordable for dApps than some other options.

The new Base network is also likely to become the default for Coinbase’s on-chain developments. Additionally, the arrival has now kicked off the “on-chain summer” event set to take place over several weeks. Specifically, the event will see the promotion of main net partner dApps in music, gaming, and digital art. Additionally, users are able to mint a “Base Day One” NFT to commemorate the arrival.

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