Crypto exchange Coinbase will open its Layer-2 blockchain Base to the general public on August 9; the Ethereum bridge is already released.
Base Mainnet Is about to Go Live, Open for Bridging
On August 3, 2023, crypto exchange platform Coinbase announced the date of its Layer-2 blockchain Base launch. After opening it for builders on July 13, Coinbase will make the Base network available to everyone else on August 9, 2023.
“Since we announced Base, our mission has been clear and consistent: bring the next million builders and billion users onchain,” Base creators wrote in the blog post.
Besides, the platform’s official bridge for moving tokens between the Base and Ethereum networks starts operating today, a week before the mainnet’s public release.
Base is built upon the OP software stack and functions as a Layer-2 blockchain. It was created as an alternative way to use Ethereum, which offers lower transaction fees and serves a wider range of customers, including both regular Coinbase users and DeFi participants.
Onchain Summer
To celebrate the release of the long-awaited network, Coinbase is also launching a dedicated month-long festival called “Onchain Summer” which is presented by 50 chosen builders, brands, products, artists, and creators. Every day in August, Coinbase will feature a wide array of onchain activities, related to art, music, gaming, advocacy, and more.
Additionally, to get more people involved in the celebration, Coinbase in collaboration with PropHouse, are ready to fund other projects built and created on Base, by offering over 100 ETH in grants.
How to Bridge to Base?
To prepare for Onchain Summer and Base Mainnet, one needs to have a crypto wallet with ETH on Base. Coinbase highlighted wallets that could be bridged to the Layer-2 network: Coinbase Wallet, Rainbow, Safe, Brave, Rabby, Frame, Exodus, Trust Wallet, rhino.fi, and Frontier.
The team has also outlined six easy ways to bridge to Base which include Onchain Summer, Base Bridge, Quests on Coinbase, Galxe, Layer-3, and Mint.fun.
Coinbase Secret Master Plan
The official Base website states that the team has been building towards this network for the last 10 years, according to the Coinbase secret master plan which consists of four stages. The company has repeatedly claimed that its mission is to create an open financial system for increasing economic freedom around the world. The launch of Base is one of the key steps in the process.
“Base is our “all in” commitment to onchain.
We believe that the onchain platform is the most important builder platform since the internet (“online”). We believe that the onchain platform should be open source, free to use, and globally available. And we believe that in order to make it really work, we need all hands on deck, working together to scale in a secure, safe, easy-to-use way.” states the message on the Base website.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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