On August 3, Coinbase, the prominent cryptocurrency exchange based in America, declared the introduction of its layer-2 blockchain called Base. Leveraging Optimism’s OP Stack technology, Base strives to amplify Ethereum’s transaction scalability and speed. It pledges a groundbreaking influence on the cryptocurrency sphere.

According to a blog post from its development team on July 13, Coinbase had opened its Base mainnet for builders. The team allowed builders to access the network before its public launch, providing more time for user onboarding.

The team announced that the Base mainnet achieved the successful integration of two functioning block explorers and an official RPC node. Users could utilize the RPC node to access data and send transactions. According to the data retrieved from these block explorers, the network has been operational since July 2. As of July 13, Base had successfully processed more than 1 million transactions.

Base Goes Live!

Coinbase’s team announced that Base would enable end users to onboard for the first time without depending on developer tools. The team has scheduled Base’s official release date for August 9. 

There will be a month-long launch event known as Onchain Summer where creators and developers can craft art and construct applications. Noteworthy companies, such as Coca-Cola (KO), gaming titan Atari, and popular NFT marketplace OpenSea, take part in the collaborative initiative. 

Major players launching and adopting this blockchain signals a promising future for layer-2 blockchain technology. It brings about a revolution in Ethereum’s scalability and fostering widespread innovation in the blockchain industry.

Developers and content creators can earn over 100 Ether at the Onchain Summer from Auust 9 to September 13. Furthermore, users who bridge to the network or complete educational “quests” will receive Base-related NFTs and ETH from the team.

The layer-2 blockchain has already attracted significant interest. Participants have  bridged over $100 million worth of ETH to the project.