1. BITBILIHome
  2. Article

Coinbase unveils Ethereum layer-2 blockchain ‘Base’ for decentralized finance

• 113 views

TL;DR Breakdown

  • Coinbase has unveiled its Ethereum layer-2 blockchain, Base, making it the first crypto exchange to do so publicly.
  • Base aims to usher in a new era of decentralized finance by inviting developers and users onto its network.
  • Despite its innovative move, Coinbase faces an ongoing SEC investigation alongside Binance.US.

Description

Coinbase Global has achieved a groundbreaking milestone by publicly becoming the first cryptocurrency exchange to unveil its Ethereum layer-2 blockchain, Base. The much-anticipated launch took place on Wednesday, marking a significant step forward in decentralized finance. Conceived with a clear objective, Base aims to usher in a new era by inviting countless developers and users … Read more

Coinbase Global has achieved a groundbreaking milestone by publicly becoming the first cryptocurrency exchange to unveil its Ethereum layer-2 blockchain, Base. The much-anticipated launch took place on Wednesday, marking a significant step forward in decentralized finance. Conceived with a clear objective, Base aims to usher in a new era by inviting countless developers and users onto its blockchain network.

With a focus on enhancing individual economic freedom, the San Francisco-based exchange envisions a decentralized financial system that transcends borders. Jesse Pollak, Coinbase’s director of protocols, articulated this vision in a press release, underlining Base’s goal to empower the next wave of builders and users in the blockchain landscape.

Coinbase has strategically initiated “Onchain Summer,” a month-long celebration dedicated to blockchain art, music, and gaming. This vibrant event showcases the diverse possibilities offered by blockchain technology and has attracted notable participants, including Coca-Cola, Atari, and OpenSea, an NFT marketplace.

As Coinbase forges ahead with its innovative Base blockchain, it faces the parallel challenge of an ongoing U.S. Securities and Exchange Commission (SEC) investigation. In June, the SEC complained to Coinbase and Binance.US, alleging breaches of securities laws. However, both companies steadfastly rebuff these accusations.

The Base blockchain’s inception can be traced back to February, when Coinbase commenced preliminary tests. Subsequently, in July, the exchange opened its doors to developers, facilitating the seamless interaction between Ether and Base through carefully designed programming tools. The results are already evident: blockchain analytics platform Dune Analytics.company reports that over US$127.3 million worth of Ether has been successfully bridged to the Base blockchain.

Coinbase’s pioneering move into the public realm with its Ethereum layer-2 blockchain sets a precedent for the cryptocurrency industry. The launch of Base underscores the exchange’s commitment to innovation and ushers in a new era of possibilities for decentralized applications (Dapps) and the broader global economy.

Coinbase’s Base blockchain debut signifies a defining moment in the evolution of the cryptocurrency landscape. The exchange’s resolute vision for a decentralized future and its ongoing commitment to fostering blockchain-based creativity positions it at the forefront of a rapidly evolving industry.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Coinbase unveils Ethereum layer-2 blockchain ‘Base’ for decentralized finance

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年8月10日 22:00
Next 2023年8月10日 23:32

Related articles

  • Sam Altman claims Worldcoin onboarding 1 user every 8 seconds despite skepticism and waning interest

    TL;DR Breakdown Sam Altman confidently claims that Worldcoin verifies one person every 8 seconds, but the lack of evidence raised skepticism. Despite 2 million pre-registrants, on-chain data showed limited uptake, with only 3,650 unique token holders and 13,766 transactions. Worldcoin’s reliance on user identity and eye-scanning technology received criticism from decentralization proponents. Description Sam Altman, the creator of Worldcoin, caused a stir on Twitter on July 26 when he confidently asserted that “one person is getting verified every 8 seconds now” for the ambitious Worldcoin project. He shared a cellphone video featuring long queues of people waiting to participate, aiming to showcase the massive demand for the eye-scanning … Read more Sam Altman, the creator of Worldcoin, caused a stir on Twitter on July 26 when he confidently asserted that “one person is getting verified every 8 seconds now” for the ambitious Worldcoin project. He shared a cellphone video featuring long queues of people waiting to participate, aiming to showcase the massive demand for the eye-scanning technology used for verification. However, the lack of substantial evidence to back his claim…

    Article 2023年7月28日

  • DeFi Education Fund takes legal action to invalidate patent claims by True Return Systems LLC

    TL;DR Breakdown The DeFi Education Fund (DEF) has filed a petition with the USPTO to challenge a blockchain patent held by True Return Systems LLC, arguing the technology was already in the public domain. True Return Systems had initially tried to monetize the patent by selling it as an NFT and later sued MakerDAO and Compound Protocol for alleged infringement. Description The DeFi Education Fund (DEF) has filed a petition with the United States Patent and Trademark Office (USPTO) to challenge a patent held by True Return Systems LLC (TRS).  However, the patent in question claims to invent a process for transferring off-chain data to on-chain platforms, a technology that DEF argues was neither new nor … Read more The DeFi Education Fund (DEF) has filed a petition with the United States Patent and Trademark Office (USPTO) to challenge a patent held by True Return Systems LLC (TRS).  However, the patent in question claims to invent a process for transferring off-chain data to on-chain platforms, a technology that DEF argues was neither new nor unique at the time of its…

    Article 2023年9月12日

  • Crypto industry shaken as UK dives into new regulations by September

    TL;DR Breakdown Crypto businesses operating within the UK are mandated to adhere to the guidelines laid out by the Financial Action Task Force (FATF), specifically its Anti-Money Laundering and Counter-Terrorist Financing regulations, collectively referred to as the Travel Rule.  The FATF established the Travel Rule in 2012 for traditional financial institutions and extended it to VASPs in 2019. However, its implementation progress has been limited, with only 11 out of 98 surveyed countries enforcing the rule by 2022. The introduction of new marketing standards by the Financial Conduct Authority, set to come into force in October, has further increased the compliance burden on crypto businesses. Description The United Kingdom took a significant step towards aligning itself with global regulatory standards concerning the use of cryptocurrencies in 2022. The nation enacted legislation to ensure compliance with the extended Travel Rule, a framework designed to regulate cryptocurrency transactions and curb potential illicit activities. As of September 1, crypto businesses operating within the UK … Read more The United Kingdom took a significant step towards aligning itself with global regulatory standards concerning the…

    Article 2023年8月19日

  • Authors Guild v. OpenAI copyright infringement lawsuit takes a new turn

    TL;DR Breakdown The Authors Guild v. OpenAI lawsuit has taken a new turn after GOT creator George Martin joined the plaintiffs. AI’s impact on authors and the content creation industry. Description In a significant legal development, the Authors Guild, alongside thirteen prominent authors, has initiated a class-action lawsuit against OpenAI. The suit, filed in the Southern District of New York, alleges that OpenAI used copyrighted works without authorization as part of the training data for its large language model, ChatGPT. The Authors Guild and the plaintiffs … Read more In a significant legal development, the Authors Guild, alongside thirteen prominent authors, has initiated a class-action lawsuit against OpenAI. The suit, filed in the Southern District of New York, alleges that OpenAI used copyrighted works without authorization as part of the training data for its large language model, ChatGPT. The Authors Guild and the plaintiffs aim to curb the unauthorized use of their copyrighted materials and address concerns about how ChatGPT was used to impersonate specific authors and create “low-quality” ebooks. GOT creator joins Authors Guild’s lawsuit against OpenAI Among the…

    Article 2023年9月22日

  • Ava Labs launches AvaGPT on its platform

    TL;DR Breakdown Ava Labs has deployed OpenAI’s ChatGPT technology on its platform. The platform targets enhancement with the AI-powered Chatbot. Description Ava Labs, the company behind the Avalanche network, has unveiled AvaGPT, a new addition to the growing number of blockchain companies adopting OpenAI’s ChatGPT technology. This move aims to provide quick answers to general questions from Avalanche users while still allowing access to the support team. Ava Labs enters collaboration with Kapa AI AvaGPT was … Read more Ava Labs, the company behind the Avalanche network, has unveiled AvaGPT, a new addition to the growing number of blockchain companies adopting OpenAI’s ChatGPT technology. This move aims to provide quick answers to general questions from Avalanche users while still allowing access to the support team. Ava Labs enters collaboration with Kapa AI AvaGPT was developed in collaboration with Kapa AI, a ChatGPT service provider, and integrated into the Ava Labs Core platform. The creation of AvaGPT was led by the Ava Labs support team and engineers, ensuring that it is trained exclusively on Avalanche documentation. Users can still rely on…

    Article 2023年6月23日
TOP