[NEWS] Coinbase releases mainnet of its proprietary Layer 2 network "Base"

Coinbase, a US cryptocurrency exchange, announced on the 9th that it has opened the mainnet of its proprietary Layer 2 network "Base" to the public.

Coinbase launched the Base testnet in February of this year. It then opened the mainnet to developers last month.

Base is Layer 2 of Ethereum, and is characterized by its high speed and low gas fees (fees) that are close to zero. According to the announcement, there are already more than 100 dApps and service providers created on Base.

Base was developed with the vision of leading one million developers and one billion users to the cryptocurrency space. It also aims to accelerate the construction of a global decentralized financial system that will increase economic freedom around the world.

In a statement, Coinbase said, "We believe that our vision will benefit everyone, including developers, creators, businesses, and general users. We developed Base because we believe that on-chain has the potential to evolve the financial system and change the future of the Internet."

He continued, referring to the internet revolution of the early 2000s, "We believe we are on the cusp of the next great transformation. Onchain is the next generation of the internet that will increase economic freedom globally by putting ownership back in the hands of the people."

According to Coinbase, there are more than 230 million Ethereum addresses, and the number of Onchain users is growing. He also added that transactions on Ethereum's Layer 2 network are exceeding Layer 1.

This trend is also extending to developers, and according to Electric Capital, a venture capital firm specializing in crypto assets, Onchain is predicted to create 1 million new software engineering jobs worldwide by 2030.

Coinbase will hold an event called "Onchain Summer" to commemorate the release of its mainnet. During the event, they will introduce art, music, games, and more created on Base.

Reference:Announcement
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