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

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

  • Crypto’s fate tied to upcoming U.S. presidential election?

    TL;DR Breakdown The uncertain narrative surrounding digital assets- whether they’re risk assets or a hedge against risk – has led to unpredictable price movements. Ed Moya, a Senior Market Analyst with OANDA, suggests the future of the industry in the U.S. might be tied to the outcome of the upcoming presidential election. Florida Governor Ron Desantis, a presidential candidate, is a vocal supporter of Bitcoin and has been pushing for crypto-friendly policies. A wavering climate has shadowed the cryptocurrency market in recent weeks, challenging investors to deduce whether digital assets offer a safe haven from financial risk or are themselves part of the risky asset class. Yesterday’s oscillation was no exception with Bitcoin (BTC) declining by 1.3% to $27,746 and Ethereum (ETH) down by 1.1% to $1,893 at the start of the East Asian trading day. Cryptocurrency has been caught in this seesaw of interpretation, bereft of a consistent narrative, and this lack of clarity has been contributing to erratic price movements. Despite these uncertainties, Ed Moya, a Senior Market Analyst with OANDA, identifies a potentially defining theme for the…

    Article 2023年6月2日
  • CFTC considers investigation into KalshiEX’s contract

    TL;DR Breakdown CFTC is set to look into KailshiEX as it reapplies for CFTC certification after withdrawing it last year. The marketplace offers binary, yes-or-no contracts that, if chosen correctly by the investor, pay out $1. Kalshi is similar to foreign betting markets that occasionally attract investors around critical political events or even online sports betting. Description The CFTC will decide whether to look into a contract that allows users to bet on who will control the US Congress at prediction market operator KalshiEX. KalshiEX is reapplying for CFTC certification after withdrawing it last year. The outcome will determine whether or not binary contracts with a monetary settlement will be offered in … Read more The CFTC will decide whether to look into a contract that allows users to bet on who will control the US Congress at prediction market operator KalshiEX. KalshiEX is reapplying for CFTC certification after withdrawing it last year. The outcome will determine whether or not binary contracts with a monetary settlement will be offered in connection with the November 8 U.S. election. KalshiEX awaits regulatory…

    Article 2023年6月20日
  • Colorado Division of Motor Vehicles (DMV) partners with PayPal to accept crypto as a form of payment

    TL;DR Breakdown The Colorado Division of Motor Vehicles (DMV) has become the first government agency in the state to accept cryptocurrency as payment for online services like driver’s licenses and vehicle registrations. To enable this, the DMV has partnered with PayPal, which will handle the cryptocurrency transactions by converting digital assets into dollars. A service fee will be applied for using this payment method. Description The Colorado Division of Motor Vehicles (DMV) has started accepting cryptocurrency as a form of payment for its online services. This initiative makes the DMV the first government agency in the state to embrace digital assets for financial transactions. PayPal crypto enables payments for driver’s licenses and vehicle registrations To facilitate this new payment option, … Read more The Colorado Division of Motor Vehicles (DMV) has started accepting cryptocurrency as a form of payment for its online services. This initiative makes the DMV the first government agency in the state to embrace digital assets for financial transactions. PayPal crypto enables payments for driver’s licenses and vehicle registrations To facilitate this new payment option, the DMV…

    Article 2023年9月2日
  • Here are 5 reasons Bitcoin dropped – SpaceX isn’t to blame for this crypto bloodbath

    TL;DR Breakdown Bitcoin prices plummeted late Thursday after claims of hundreds of millions in sales, causing a slaughter in futures and spot markets. Is this another crypto winter? There are news reports that the SEC could approve ETH features ETFs, and this has slightly affected the BTC market recovery. Analysts point out that the crypto market has been flat for a while now and a shakeup was expected at any time. Description Elon Musk’s SpaceX apparently selling its Bitcoin holdings, the bankruptcy of a Chinese property behemoth, and concerns about interest rate hikes are among the hypotheses put forward to explain Bitcoin’s unexpected price drop. An unexpected and significant sell-off in crypto markets startled what had been an otherwise dull few weeks for crypto, and the sensation … Read more Elon Musk’s SpaceX apparently selling its Bitcoin holdings, the bankruptcy of a Chinese property behemoth, and concerns about interest rate hikes are among the hypotheses put forward to explain Bitcoin’s unexpected price drop. An unexpected and significant sell-off in crypto markets startled what had been an otherwise dull few weeks…

    Article 2023年8月18日
  • Terra Classic community votes to cease USTC minting for peg stability

    TL;DR Breakdown The Terra Classic community has voted to halt all minting and reminting activities associated with USTC. The primary objective is to protect the interests of both the Terra Classic community and external investors.  The proposal carries significant implications for the crypto industry. Description In a significant move aimed at restoring stability, the Terra Classic community has voted to halt all minting and reminting activities associated with TerraUSD Classic (USTC). This decision comes as part of a broader effort to reestablish a stable peg between USTC and the United States dollar. The community vote, which concluded with a 59% … Read more In a significant move aimed at restoring stability, the Terra Classic community has voted to halt all minting and reminting activities associated with TerraUSD Classic (USTC). This decision comes as part of a broader effort to reestablish a stable peg between USTC and the United States dollar. The community vote, which concluded with a 59% majority in favor of discontinuing USTC minting, is seen as a pivotal step towards addressing the recent turmoil in the Terra Classic…

    Article 2023年9月25日
TOP