Despite the difficult regulatory environment it faces, the firm Coinbase is actively working to perform in the market. The Base blockchain network should help with this once it goes live.
The Base Network Should Support Coinbase’s Operational Relevance
The Coinbase crypto platform should soon reach a new operational milestone with Base. It is a layer 2 blockchain whose launch is officially scheduled for next Wednesday, August 9th.
It was Jesse Pollak, Coinbase’s chief protocol officer who leaked information this Thursday, August 3. According to his explanations, this technological infrastructure is equipped with an already functional bridge functionality.
Once in service, Base should promote token transfers with the Ethereum platform. This should allow users to lower the fees compared to those charged by Ethereum.
Thus, Base offers itself as an alternative to using Ethereum. And this is not the only advantage that this blockchain offers users. The network should introduce, from its launch, features around NFTs.
Enough to allow users of Coinbase, but also those of the DeFi market, to take advantage of certain privileges. Among these are the ability to earn rewards through tasks, minting commemorative NFTs. Another option is the ability to reserve cb.id crypto usernames on Coinbase Wallet.
It must be said that access to the Basic mainnet was initially quite restrictive. Only the developers had this possibility. But its accessibility to the public seems to have been made necessary by certain factors.
First because several users have found ways to link assets using proxy contracts and unofficial bridges. Alternative that allowed them to exchange new memecoins.
Another factor that potentially contributed to this development is the incident involving the Bald memecoin. A situation following which the asset saw its price collapse. With the Base network, Coinbase hopes to limit the occurrence of such incidents.
According to the company’s forecast, the infrastructure would be rolled out in stages. In particular, there will be a structured phase involving launch partners, including Atari and OpenSea, among others. For a month, Coinbase and its partners will host Onchain Summer, a promotional event around Base.
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