Coinbase’s New Layer 2 Launch Boosts Confidence In Ethereum, Here’s Why!
Coinbase’s New Layer 2 Launch Boosts Confidence In Ethereum, Here’s Why!
Coinbase’s New Layer 2 Network
Recently, crypto exchange Coinbase announced the launch of their new Ethereum Layer-2 network, Base, which will be the new home for Coinbase’s on-chain products.
Base itself is secured on Ethereum and powered by layer-2 network Optimism, with the Coinbase team explaining that they hope for the network to eventually become an open ecosystem for millions of decentralized applications (DApps).
Related: Ethereum Developers Announce Date For Upcoming Shapella Upgrade!
0/ 🔵 Hello world.
Meet Base, an Ethereum L2 that offers a secure, low-cost, developer-friendly way for anyone, anywhere, to build decentralized apps.
Our goal with Base is to make onchain the next online and onboard 1B+ users into the cryptoeconomy.https://t.co/Znuu3o3pJw
— Base (@BuildOnBase) February 23, 2023
Confidence Growth For Ethereum!
The launch of Coinbase’s new Layer 2 has been sparking a lot of bullishness and confidence towards the Ethereum network, with many claiming that this move could cause many other crypto and Web3 firms to follow suit in doing the same in the future.
Bankless Show host Ryan Sean Adams explains on his Twitter that he views this launch to be massive to Ethereum. “This is the maximally decentralized way for an exchange to launch a chain, no token, no walled garden, all open source. This is good for crypto values. More DeFi, less CeFi.” Adams wrote.
2/ This sets precedent that other crypto companies will follow, then Fintechs, then banks. Eventually the world will use Ethereum as a settlement and property rights system.
— RYAN SΞAN ADAMS – rsa.eth 🏴🦇🔊 (@RyanSAdams) February 23, 2023
“If Coinbase converts 20% of its 110m verified users to Layer 2 users in the coming years, this alone will 10x the total number of crypto native users.” Adams continues, “This is incredibly bullish for Ethereum blockspace demand.”
Coinbase just announced that they are launching a layer 2, named Base, on Ethereum and powered by Optimism.
Ethereum is becoming the world's settlement layer.
— sassal.eth 🦇🔊 (@sassal0x) February 23, 2023
Related: SBF Hit With New Charges For Illegal Political Donations
For more info regarding Crypto Alpha and NFTs Alpha. Always follow us on Twitter and Instagram.
