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- 1 Coinbase drops free Ethereum NFT via Zora, a popular NFT minting platform, to Mark Base Network launch.
- 2 The aim of the crypto exchange with Base is to make it an open ecosystem for everyone.
Base, Introduced, a free NFT that will be available on Coinbase through Zora. This is an open edition NFT which anyone can claim one of the identical collectibles until the minting window ends on coming Sunday, with a limit of one NFT per wallet.
Yesterday, one of the well-known crypto exchanges, Coinbase made an announcement about its major project, Base. It is an Ethereum L2 which offers a secure, low-cost, developer-friendly way for anyone, anywhere, and also to build decentralized apps.
“Coinbase added about its goal with Base is to make onchain the next online and onboard more than one billion users into the cryptoeconomy.” The exchange clearly noted that Base is not a token. Also they are not planning to issue a new network token for Base. Instead, they use Ethereum (ETH) as the native gas token.
Base: An Ethereum L2
According to Base, it is secured by Ethereum, empowered by Coinbase, and is open source with Optimism Foundation with big features and small fees. Base will be onchain home for Coinbase. It will be a bridge that brings its users onchain and enables them to go anywhere, including L1 and other. Also in ecosystems like Bitcoin and Solana.
Additionally, Base is the contribution of Coinbase to the core infrastructure of the cryptoeconomy: a commitment to scale Ethereum and unlock the next wave of growth and adoption. It is decentralization that enables the cryptoeconomy to remain open and accessible to everyone. And to accelerate the decentralization, Base is built on the open-source OP Stack to create an interoperable superchain with Optimism Foundation.
Base is built with the security and scalability that anyone needs to power its decentralized apps. It makes it easy to build decentralized apps with access to Coinbase’s products, users, and tools. Seamless Coinbase product integrations, easy fiat onramps, and powerful acquisition tools enable developers to serve more than 110 Million verified users and to access $80 Billion assets on platform in the Coinbase ecosystem.
The Ethereum L2 offers full EVM equivalence at a fraction of the cost and is committed to pushing forward the developer platform. Base set up gas-less transactions for user’s dapps with easy developer APIs for account abstraction, and securely build multichain applications with easy-to-use bridges.
Coinbase mentioned the reason for building Base is to bring in billions of users to the cryptoeconomy, dapps need to be easier, cheaper, and safer to interact with. And for this to happen, the exchange needs to make it even easier for developers to build these dapps.
In the weeks ahead, Coinbase will share its roadmap to mainnet. The exchange will also provide more developers resources for building on Base.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
