BREAKING: Coinbase unveils its Ethereum Layer 2 network that won't have a token
Coinbase said the Base network is designed to be a low-cost, open-source, Layer 2 developer sandbox for dapps.
The crypto exchange giant unveiled Base, a testnet version of its new Ethereum Layer 2 network, at ETHDenver. Modeled on Ethereum's Goerli testnet, it is designed to eventually connect to the main Ethereum network, according to Jesse Pollack, Coinbase's senior director of engineering. Base will also mesh with consumer products from the company, such as Coinbase and Coinbase Wallet, and in so doing “give developers access to the 100 million plus users in the Coinbase ecosystem, 100 billion plus assets," and"enable the scale that developers who are building web2 apps are used to in this new web3 economy,” said Pollack.
“We expect that lots of those developers will eventually go multichain or folks may start on another chain and then come to Base,” Pollack said.For the last year, Coinbase has been working on proto-dank sharding, an upgrade to Ethereum that will reduce fees on Layer 2 networks between 10-100 times current levels, Pollack said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Solana Blockchain Well Positioned to Reassert Itself as a Genuine Layer 1 Competitor: Coinbase.coinbase says the fundamental value proposition of the solana protocol persists from a technical perspective and the blockchain is well positioned to reassert itself as a genuine layer 1 competitor. By willcanny99
Read more »
Layer 2 Scaling Solution Arbitrum Flips Ethereum in Daily TransactionsFor the first time, a single layer 2 system recorded more transactions than the Ethereum mainnet.
Read more »
Bouncing seismic waves reveal distinct layer in Earth's inner coreData captured from seismic waves caused by earthquakes has shed new light on the deepest parts of Earth's inner core, according to seismologists from The Australian National University (ANU).
Read more »
Earth's inner core may have another layer hidden withinScientists have found that there is an extra innermost core at the center of the Earth made entirely of iron, measuring 400 miles in diameter.
Read more »
Earth's innermost layer is a 400-mile-wide ball of iron, new study suggests | CNNScientists have long wondered what lies at the very center of the Earth, and the latest research is putting weight behind a theory that our planet has a distinct ball of iron within its metallic core
Read more »