A blockchain network, Base Mainnet, developed by Coinbase cryptocurrency exchange, has officially been launched and is now open to the general public. This brings many new features and a community of over 100 decentralized apps and service providers.
Jesse Pollak said, “We’re thrilled to announce that Base mainnet is now live and available for everyone. At launch, there are 100+ dapps and service providers available in the Base ecosystem, as well as deep integrations across the Coinbase product ecosystem.”
The mainnet launch is accompanied by an “on-chain summer” event, which likely involves various decentralized applications (dApps) and service providers to the network’s ecosystem.
This network aims to provide a better user experience compared to Ethereum, with lower transaction fees and faster transaction speeds. Jesse Pollak, who leads protocols at Coinbase, mentioned these improvements.
The network’s testnet had been launched in February, followed by a version exclusively for developers in July, Base Network has established connections with numerous cryptocurrency projects.
These include various types of platforms and services within the crypto space, such as DeFi (Decentralized Finance) protocols, wallets, bridges, oracles (services that provide external data to smart contracts), as well as analytics and infrastructure providers.
Base Network built upon Optimism’s software stack, the OP Stack. This network functions as a Layer 2 solution, specifically as a rollup network. It is a technology designed to enhance the scalability of blockchain transactions.
Base Network acts like an extension of Ethereum, aiming to speed up transactions and lower costs for decentralized applications (dApps). This improvement provides users with a better experience while still benefiting from Ethereum’s security and decentralization.
Also Read: Coinbase Set to launch ‘Base’ Layer 2 Blockchain on 9 Aug
