Courtesy: https://www.coinbase.com/
- Jesse Pollak, the lead at Base revealed that the mainnet is scheduled to launch at a later time this year.
- Base hopes to decentralize itself from Coinbase in the coming months or years, Jesse Pollak asserted in an interview.
Coinbase is marking its position in the Layer 2 ecosystem as the most recent revelation from a Coinbase official detailed the exchange’s plans to launch one of the most highly anticipated projects. According to Jesse Pollak, who previously headed engineering at Coinbase, the Base mainnet will be launching this year.
Pollak, In a recent podcast interview with Jacquelyn Melinek, Pollak revealed that the team at Coinbase is committed to bringing the project to life in 2023.
Base is an Ethereum Layer 2 chain created to offer a safe, affordable, and developer-friendly way to build on-chain. The layer 2 chain is built on the OP stack in partnership with Optimism, an Ethereum scaling solution.
The recent update is coming a few months after Coinbase launched the testnet version of the Ethereum Layer 2 network solution. Followings the launch, Coinbase revealed it was incubating Base inside the Coinbase exchange, as it continues to utilize its decade-long experience building crypto products while living up to its plans to decentralize the chain in the long term.
There has been no update on timelines and progress stages since the testnet launch, until Pollak’s recent podcast interview. Pollak told the podcast host that Base is a top priority at Coinbase right now. He added that the exchange’s decentralized goals were also a top priority at this time.
It’s coming soon, we’re working hard on it, It’s our number one priority alongside decentralization goals and the rest of the year is really about making sure we get there as quickly as possible.
Base intends to decentralize itself from Coinbase in the near-term
Going forward, Pollak disclosed that Base’s vision is centered around onboarding millions of builders, as well as a billion users on-chain. Base intends to do this by building easy-to-use products on its platform.
I think less about Base passing Coinbase and more about how Base plus Coinbase over the next decade are going to work together to bring those million developers [and]billions of users on-chain,
Additionally, a significant number of leading crypto firms have shown interest in building on Base. Blockdaemon, Chainlink, Etherscan, Quicknode, Aave, Animoca Brands, Dune, Nansen, Magic Eden, Pyth, Rainbow Wallet, Ribbon Finance, The Graph, Wormhole, and Gelato are some of the many crypto businesses using Base.
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In the near term, moving Base to mainnet and decentralizing it is most important. “We can’t not decentralize this. We have to live up to that value and to that ethos.” Pollak stated.
In the coming months or years, Base intends to decentralize itself from Coinbase. Getting to the point of decentralization will not be a forever timeline, it is instead a matter of progressing each day, Pollak asserted, saying “When I wake up every morning and say p zero, how do we decentralize?”
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