- Coinbase announces the launch of ‘Base’, a Layer 2 blockchain, scheduled for public access on Aug. 9, enabling ETH bridging.
- Partnerships with big names like Coca-Cola, Atari, and OpenSea, and over $68 million worth of ether already bridged, demonstrate strong support for the project.
Coinbase, the largest publicly traded U.S. crypto exchange, has unveiled its layer-2 blockchain, ‘Base’, developed with Optimism’s OP Stack. The public rollout is set for Aug. 9, enabling ETH bridging, a significant milestone in the blockchain space, Yahoo Finance updated..
Enabling ETH Bridging: A New Horizon
Starting this Thursday, users will have the ability to bridge their ether (ETH) to Base. This feature represents a major advancement, providing a seamless method to connect different Ethereum-based networks.
Previously in July, Base was available for developers, allowing them to test applications on the new network.
Participation from Major Companies
The announcement of Base coincides with Coinbase’s “Onchain Summer,” an initiative inviting creators and developers to collaborate on the Base platform. High-profile participants include Coca-Cola, Atari, and the non-fungible token platform OpenSea.
Funding of ether on Base is already operational through Coinbase Wallet, further signifying readiness ahead of the public launch.
Significant Bridging Activity
Last weekend, Base witnessed over $68 million worth of ether being bridged, as reported by blockchain data from Dune. This achievement indicates strong interest and anticipation for the new blockchain.
Venture-Capital Involvement and Future Plans
Andreessen Horowitz, also known as a16z, a firm utilizing OP Stack, has announced its layer 2 rollup called Magi.
Jesse Pollak, the creator of Base and head of protocols at Coinbase, expressed his excitement about the consistent mission to “bring the next billion users and next million builders on chain.”
The upcoming launch of ‘Base’ by Coinbase next week marks a turning point in the blockchain industry. The introduction of ETH bridging capabilities, along with strong collaboration with major players in various fields, sets the stage for what could be a groundbreaking expansion in blockchain technology.
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