Categories: FintTechMenafn

Coinbase Rolls Out Decentralized L2 Network Base

  • Coinbase becomes the first American publicly traded company to launch a decentralized network.
  • The layer 2 blockchain Base is now open to the public with over 100 dapps and on-chain service providers like Chainlink available at launch.
  • Base is an L2 network built as an alternative to Ethereum using Optimism’s OP stack.
  • Coinbase’s blockchain recently made crypto media headlines after a rug pull involving the BALD memecoin.

Base, the L2 Ethereum network backed and built by crypto exchange Coinbase, is officially open for public access.

100 decentralized apps and crypto service providers like Chainlink are available on the blockchain at launch. Moreover, Base features an official bridge to Ethereum’s mainnet allowing users to freely move ETH between both networks.

The launch of Base also coincides with the company’s “Onchain Summer” week-long event featuring commemorative NFTs and rewards for users.

Coinbase is the first-ever publicly traded entity in the U.S. to launch its own decentralized network. The company does not plan to launch a token for its Base L2 blockchain.

Coinbase’s Secret Plan

The decentralized network developed using Optimism’s OP stack is part of “The Coinbase Secret Master Plan”, said CEO Brian Armstrong when Base was announced back in February.

By mid July, would-be early users trooped into Base despite the network being only accessible to developers at the time. Several “degens” bridged their Ether (ETH) tokens to the network through a portal proxy contract, a one-way door from Ethereum’s ecosystem to Base. The gateway allowed these users to make millions overnight aping into risky memecoins like BALD.

BALD holders however soon found themselves rekt after the token’s developer withdrew liquidity in what turned out to be a rug pull. A number of other memecoins on Base also turned out to be scams as well. At the time, Base users only had access to a one-way bridge, leaving liquidity trapped in the budding ecosystem.

Ryan Helton

A Stock enthusiast since childhood, Ryan is known for his impeccable knowledge in the technology and gadgets niche. He has been working with eTrendy Stock as a contributor for most stock category and his articles are always well-researched and accurate.

Recent Posts

Litecoin Price Analysis: Is LTC Poised for Takeoff?

Litecoin is holding firm just under the $100 mark, trading at around $98 after a…

4 hours ago

XRP Whale Transfers Spark Surge, Ethereum Eyes $4,000, Bitcoin Targets $130K — Find Mining Launches New App

As Bitcoin Targets $130K and Ethereum Nears $4,000, Find Mining Empowers Users with Smart Cloud…

1 day ago

U-topia Joins The International Chamber of Virtual Assets Through TheBlock’s Startup Program

Dubai, UAE, 29th July 2025, ZEX PR WIRE, U-topia, a technology company working at the intersection…

1 day ago

BNB Rallying Over 6%—Why Are Savvy Investors Secretly Flocking to BTC Miner Cloud Mining?

New York, 29th July 2025, ZEX PR WIRE, Today, Binance Coin (BNB) led the market…

1 day ago

$1 Memecoin Relaunches as Community-Led Movement Against Inflation and Dollar Erosion

London, United Kingdom, 29th July 2025, ZEX PR WIRE, A decentralized crypto protest is gaining…

2 days ago

Predictino Launches Public PREDINO Presale to Bring AI Forecasting to Crypto Traders

London, UK, 29th July 2025, ZEX PR WIRE, Predictino, an AI-powered trading intelligence platform, has…

2 days ago