Bankless founder: Why is Coinbase's new chain Base a milestone?
Original compilation: czgsws, BlockBeats
Original compilation: czgsws, BlockBeats
On February 23, Coinbase announced the launch of its Ethereum Layer 2 network - Base's testnet, with the goal of attracting the next wave of billion-level users into the crypto economy. Currently Coinbase is incubating Base internally, and developers can already explore building on Base on base.org. Bankless founder Ryan Adams gave a very high evaluation of this matter on social media, and BlockBeats compiled and compiled his remarks as follows:
I think that Coinbase launching its own Layer 2 network is a big milestone. Here are 10 reasons to support this conclusion:
1. They chose Ethereum to launch their own Layer 2 network, which represents Coinbase's absolute trust in Ethereum.
2. This sets a precedent for other crypto companies to emulate, after which fintech companies, then banks, and eventually the world will use Ethereum as a universal settlement and property rights system.
3. This is the best decentralized way for the trading platform to go on the chain. There is no Token, no closed platform, and it is all open source. This is a good thing for the value of encryption, more DeFi, less CeFi.
4. If Coinbase converted 20% of its 110 million verified users to Layer 2 users in the next few years, that alone would be 10 times the total number of crypto-native users.
5. This is a high-quality solution that the encryption industry can hand over to regulators, "How will you protect retail investors in situations beyond our control?" The answer is code regulation, a system based on transparency and openness. A trustless currency system on top of a DeFi protocol.
6. This is very optimistic for Ethereum block space demand.
7. This can incentivize Coinbase to build infrastructure like EIP-4844, which will speed up our progress.
8. Coinbase's legal and compliance team in the US helped them launch Base smoothly, which is a bullish thing because the current regulatory system in the US is almost the most stringent.
9. This will enhance Layer 2 infrastructure, tools and development.
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