Coinbase Opens Base Blockchain to the Public
- Coinbase’s Base blockchain was made available to the public on Wednesday, featuring over 100 dApps and services as part of its ecosystem.
- In order to show its capabilities and promote its mainnet partners, Base has also launched an event called “Onchain Summer” that will allow users to mint exclusive NFTs on the network.
Shutterstock
Popular cryptocurrency exchange Coinbase has officially launched the mainnet for its Base blockchain, featuring over 100 dApps and services as part of its ecosystem, the company said via Twitter on 9 August.
According to a blog post from Base, the layer-2 network is now open to the public to explore its numerous dApps and services, as well as benefit from its lower transaction fees and faster speeds compared to the Ethereum mainnet. Built using Optimis’s software stack, Base operates as a rollup network that processes transactions off of the Ethereum blockchain, providing a faster and cheaper alternative for many dApps.
The new blockchain has attracted a large number of crypto projects ever since its beta version was launched back in February. Although the network was made available to all users on Wednesday, Base’s mainnet was actually launched on 13 July, though it was available only to developers at the time.
A number of well known crypto projects have already launched their products on Base, including cross-chain bridge protocol Wormhole, decentralized exchange (DEX) Uniswap, web-based payment app Beam, and many more.
As part of its official public launch, Base is starting an event — called “Onchain Summer” — in order to show its capabilities over the next several weeks, and promote Base’s mainnet partners in the digital art, music, and gaming sectors. Multiple brands and projects will allow users to mint exclusive non-fungible tokens (NFTs) on the new blockchain, including Coca-Cola, Showtime, Atari, Optimism, OpenSea, and others.
- A little over $13 million in altcoins were sent to crypto exchanges Binance and Coinbase in the past 24 hours, which is in accordance with a September court order.
- The court ordered a phased liquidation process, which allows the bankruptcy estate to sell $3.4 billion worth of digital assets over a certain period of time.
Shutterstock
- Although it was launched in beta on 10 August, the platform has already entered the list of top three fee generating crypto projects by earning $1.42 million in 24 hours.
- Friend.tech is a social app integrated with X (formerly Twitter) that allows users to sell and buy tokenized shares of their social network, gaining access to exclusive content and private chat rooms.
- During an interview with FT, CEO Brian Armstrong said that before the lawsuit a SEC staff member had said that all crypto except BTC was security, and should be delisted.
- When asked how he came to that conclusion, the SEC staff member reportedly said “we’re not going to explain it to you, you need to delist every asset other that Bitcoin”.