Coinbase-backed L2 'Base' Begins Consideration for Issuing Its Own Token

The major cryptocurrency exchange Coinbase-supported L2-related project 'Base' announced on the 15th that it has begun considering the issuance of a network token.

The consideration has also been noted in the profile section of its official X account. However, the consideration is still in the early stages, and there is no information available yet regarding the timing of issuance, token design, or governance.

What is L2?

L2 stands for 'Layer 2', which refers to a 'second layer' network. Handling all transactions on the main chain increases the load, leading to slower processing speeds and higher network fees. By conducting some transactions on L2, the main...