Coinbase Launches L2 Testnet Solution Base
US-based cryptocurrency exchange Coinbase has launched a test network of the second level solution Base, which has been developed on the basis of the OP Stack architecture from Optimism.
According to the company:
“Base is L2 based on Ethereum. It offers a secure, low-cost, and developer-friendly way to build decentralized applications.”
Coinbase has emphasized that the new solution does not involve the issuance of a token as ETH is used to pay transaction fees.
Base will interact with the company’s main products, including Coinbase Wallet.
The trading platform will also join Optimism as the main developer of the OP Stack. A portion of transaction fees on the Base network will go to the Optimism Collective treasury.
Among other things, Coinbase and its venture arm will launch the Base Ecosystem Fund, which will invest in early stage projects using the new L2 solution.
