1. BITBILIHome
  2. Article

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

• 77 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

  • FTX and Genesis reach agreement in bankruptcy cases

    TL;DR Breakdown Bankrupt crypto firms FTX Trading Ltd. and Genesis Global Holdco LLC have agreed to settle their Chapter 11 cases. FTX originally claimed a $3.9 billion debt from Genesis, which was later reduced to $2 billion. Description Brace yourselves as the crypto universe witnesses an unprecedented episode of resolution. The bankruptcy specter, FTX Trading Ltd., and Genesis Global Holdco LLC have decided to bury the hatchet and find common ground to settle their Chapter 11 cases. Out of chaos comes order In the throes of financial collapse, FTX Trading had squared off … Read more Brace yourselves as the crypto universe witnesses an unprecedented episode of resolution. The bankruptcy specter, FTX Trading Ltd., and Genesis Global Holdco LLC have decided to bury the hatchet and find common ground to settle their Chapter 11 cases. Out of chaos comes order In the throes of financial collapse, FTX Trading had squared off with Genesis Global, claiming a staggering debt of $3.9 billion. The crypto lender, Genesis, countered this allegation, leading to a reduction of the contested amount to $2 billion. A…

    Article 2023年7月29日

  • PayPal’s dive into stablecoins isn’t what it seems

    TL;DR Breakdown PayPal has launched its own stablecoin, PayPal USD. The crypto market is currently saturated with stablecoins like tether and USDC. Despite pausing development due to regulatory pressures, PayPal pushes forward. Description It’s not every day that a tech giant decides to dip its toes entirely into the murky waters of cryptocurrency. But this is precisely what PayPal has chosen to do. Their recent foray into stablecoins with the PayPal USD isn’t the triumphant entrance they’d want you to believe. Why? Let’s dissect this bold yet baffling … Read more It’s not every day that a tech giant decides to dip its toes entirely into the murky waters of cryptocurrency. But this is precisely what PayPal has chosen to do. Their recent foray into stablecoins with the PayPal USD isn’t the triumphant entrance they’d want you to believe. Why? Let’s dissect this bold yet baffling move. A Crowded Market and PayPal’s Bold Claim When PayPal announced their venture into the world of stablecoins, they weren’t joining a barren landscape. They were stepping into a battleground already saturated with big…

    Article 2023年8月10日

  • Polychain Capital and Coinfund Secure $350 Million in Funding for Crypto Ventures

    TL;DR Breakdown Polychain Capital raised $200 million for its fourth investment fund, aiming for a total of $400 million, and let go of three research team members. Coinfund surpassed expectations by raising $152 million for its seed fund, reflecting a renewed interest in the crypto industry. Description In a notable boost for the cryptocurrency sector, Polychain Capital and Coinfund, two prominent venture capital firms, have successfully raised a combined total of $350 million for their new investment funds. Polychain Capital secured an impressive $200 million for its fourth investment fund, while Coinfund exceeded expectations with $152 million for its seed fund. These … Read more In a notable boost for the cryptocurrency sector, Polychain Capital and Coinfund, two prominent venture capital firms, have successfully raised a combined total of $350 million for their new investment funds. Polychain Capital secured an impressive $200 million for its fourth investment fund, while Coinfund exceeded expectations with $152 million for its seed fund. These significant investments come at a time when venture funding for crypto projects has been experiencing a decline. This article delves…

    Article 2023年7月19日

  • Paradigm files amicus brief rejecting SEC’s lawsuit against Bittrex

    TL;DR Breakdown Paradigm has published an amicus brief in the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Bittrex The investment firm says that the SEC lawsuit should be dismissed for lack of a proper regulatory framework Description Paradigm, a crypto investment firm, has published an amicus brief concerning the Bittrex lawsuit by the U.S. Securities and Exchange Commission’s (SEC) lawsuit. The firm has rejected the regulator’s “unsupported attempt” in its crypto secondary market’s effort to expand its jurisdiction.  Paradigm says SEC lawsuit should be dismissed The SEC case against U.S.-based cryptocurrency exchange … Read more Paradigm, a crypto investment firm, has published an amicus brief concerning the Bittrex lawsuit by the U.S. Securities and Exchange Commission’s (SEC) lawsuit. The firm has rejected the regulator’s “unsupported attempt” in its crypto secondary market’s effort to expand its jurisdiction.  Paradigm says SEC lawsuit should be dismissed The SEC case against U.S.-based cryptocurrency exchange Bittrex should be “dismissed,” according to the firm’s special counsel Rodrigo Seira, who shared his thoughts in a thread on Twitter on July 11 following Paradigm’s filing of the…

    Article 2023年7月12日

  • Bank of Japan’s bold policy move sparks turmoil

    TL;DR Breakdown The Bank of Japan (BOJ)announced adjustments to its yield curve control program, which previously aimed to cap the 10-year government bond yield at 0.5%.  This move is aimed at addressing concerns over rising inflation, as the country has been facing 35-year highs in consumer prices, putting additional pressure on the economy. Description The Bank of Japan (BOJ) has made a significant policy change that is already sending ripples through global financial markets. On July 28, the BOJ announced adjustments to its yield curve control program, which previously aimed to cap the 10-year government bond yield at 0.5%. However, the BOJ now sees this as a reference point … Read more The Bank of Japan (BOJ) has made a significant policy change that is already sending ripples through global financial markets. On July 28, the BOJ announced adjustments to its yield curve control program, which previously aimed to cap the 10-year government bond yield at 0.5%. However, the BOJ now sees this as a reference point rather than an inflexible limit, indicating a shift in their approach. While the…

    Article 2023年7月29日
TOP