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).

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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.

“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.”

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