A new network called Base is another Ethereum L2, with only Coinbase as the validator in the beginning.
On Thursday (23), Coinbase launched its second layer network on Ethereum. Called "Base," the network is expected to house the latest developments in the ecosystem of the largest exchange in the United States.
It is worth noting that Binance has already created a similar ecosystem, the Binance Smart Chain, which later became an independent project with its own network. Today, the network has been renamed BNB Chain and operates with separate validators.
In the case of Base, Coinbase starts as the only validator of the network in the initial phase and begins its journey linked to decentralized applications.
In addition to the Ethereum ecosystem and all the second layers that already exist within the project, another novelty is coming to the market.
According to Coinbase, Base arrives as a low-cost L2 for developers to create their solutions.
In initial tests, costs on Base have been shown to be 10 times lower than on the Ethereum mainnet.
Coinbase it's giving NFTs!
With a clear expectation of attracting 1 billion users to its new ecosystem, Coinbase is distributing NFTs to users.
The event is expected to end at midnight (EST) on next Sunday (26), which in Brazil should occur at 2am on Monday (27).
To perform the free mint, users must go to the official project website and link their wallets.
The infrastructure will continue to be based on Ethereum and open source, with the help of the Optimism Foundation.
The expectation of Coinbase's new network is to create bridges between cryptocurrency ecosystems, not only in Ethereum.
According to the exchange, users will soon be able to use the solution to navigate through the Bitcoin and Solana ecosystems as well. However, the network is still in testing phase.
The first creators interested in building solutions on Base are Chainlink, Infura, Etherscan, Animoca, Aave, among others.