Last week, Coinbase announced that the Base network would be launched on August 9, following the opening of the Ethereum bridge. Today, in an event attended by numerous major brands, Coinbase officially launched its own layer2 solution.
Base Network is Live
Coinbase, the largest publicly traded cryptocurrency exchange in the United States, has just announced the launch of its new network called “Base“. While Base has already been available for developers to test, Coinbase officials previously stated that the network would be open to everyone starting on August 9.
The exchange’s management believes that the Base network, which was introduced as an Ethereum L2 solution, will diversify the company’s revenue. With benefits ranging from transaction fees to the applications built on the network, Coinbase is gradually moving away from a revenue model dependent on trading fees. In the future, we may see the Base network grow even further, similar to Binance‘s BNB Chain.
During the initial announcement, Coinbase officials stated that there would definitely be no airdrop and the network would not release its own token. However, despite this, many investors tried their luck by trading on the test network in hopes of a potential airdrop.
Launched at the Web3 Festival, where numerous brands like Coca Cola participated, the Base network has already become the center of attention for popular applications like YGG Coin.
