Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Bitcoin price risks are broken down to $ 92,000 when it enters the battery phase

2025-06-02

Taskon Partners GPT360 to accelerate the expansion of the Web3 community

2025-06-02

Is Solana’s newest divergence the first sign of a trend shift for the price of Altcoin?

2025-06-02
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Taskon Partners GPT360 to accelerate the expansion of the Web3 community

    2025-06-02

    Goplus Security reveals Goplus-MCP, the first AI-Native Security Layer for Web3

    2025-06-02

    Solana to get the first Kaito-like Mindshare Leaderboard

    2025-06-01

    In and Ecocreds partner to stimulate transparent, blockchain-driven sustainability

    2025-06-01

    IQ AI and OpenLedger work together to improve intelligent automation

    2025-06-01
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Nobel Prize Economist says: ‘Stablecoins do not serve clearly useful function’; Co-founder of Coinmetrics does not agree

    2025-06-01

    Memecoin investors should not look at the SEC for protection, “says Commissioner Hester Pierce

    2025-06-01

    IMF requires urgent clarification of Pakistan more than 2,000 MW of Power Allowance to Bitcoin -Mybouw

    2025-06-01

    Humans leads $ 3,490,000 from the US government, various companies in bank fraud: Doj

    2025-06-01

    American authorities charge six people in connection with alleged $ 66,000,000 Food Stamp -Fraud schedule

    2025-05-31
  • Analysis

    Trump’s trade war now closer to the endgame while the White House loses lawsuits, according to Tom Lee of Fundstrat

    2025-06-02

    Solana (SOL) keeps falling – is a reversal in sight?

    2025-06-02

    Bitcoin Price Eyes New winnings – Does the next leg be higher?

    2025-06-01

    Bitcoin will explode to new all time High, just like traders are super bearish to btc, according to analyst

    2025-06-01

    Analyst who has nailed 2021 Bitcoin -Top, predicts new leg for Bitcoin – but there is a catch

    2025-06-01
  • Learn

    What Is Asset Tokenization? How It Works and Why It’s Important

    2025-05-30

    What Is DeFi 2.0 and Why It Matters

    2025-05-27

    Crypto Margin Trading: How It Works and How to Manage the Risks

    2025-05-26

    Wat is circulerende levering in cryptocurrency?

    2025-05-23

    What Is a DEX (Decentralized Exchange)?

    2025-05-21
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»NFT»Coinbase’s Ethereum Layer-2, Here’s What You Need To Know
Coinbase's Ethereum Layer-2, Here's What You Need To Know
NFT

Coinbase’s Ethereum Layer-2, Here’s What You Need To Know

2023-08-04No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The ever-evolving world of blockchain technology continues to be a hotbed of innovation, and one of the latest trends in this area is the implementation of Layer-2s, and Coinbase’s latest Base.

Layer-2s promise improved transaction speeds, scalability and security and shift the paradigm of how blockchain networks work. Coinbase, North America’s largest centralized crypto exchange (CEX), has announced the launch of “Base”, a new layer-two (L2) Ethereum chain using Optimism. Let’s dive in.

Understanding layer 2s

At its core, Layer-2s are a type of blockchain architecture. They build on the fundamental base layer (or layer 1), which typically contains the protocol for a blockchain network such as Bitcoin or Ethereum, and add an additional layer to handle transactions and smart contracts.

The concept of layered architecture in blockchain is not new; what sets layer-2s apart is how they are designed to maximize efficiency and scalability without compromising security and decentralization. They address some of the critical challenges that base layer blockchains face, such as network congestion, slow transaction times, and high fees.

How do they work?

Layer-2s work by creating a second layer of protocols on top of the main blockchain. Transactions that would normally be processed on the primary blockchain are instead performed on this second layer. It’s like adding a freeway to a busy highway; transactions can be processed faster and more efficiently, bypassing the traffic on the main road.

The completed transactions on the second layer are then aggregated and added to the main blockchain as a single entry, reducing the load on the primary chain and significantly increasing the capacity of the overall network.

See also  Combat fake login details and unfair wages

The remarkable thing is that all this is achieved while maintaining the decentralized nature and security of the blockchain. Transactions in the second layer are cryptographically linked to the base layer, ensuring the same level of security and trustless nature that blockchain technology is known for.

What is Basic?

Base is an L2 chain developed and managed by Coinbase, using Optimism’s framework – a layer-two scaling solution for Ethereum and the second largest L2 ecosystem after Arbitrum. Optimism’s primary goal is to address the blockchain trilemma – issues related to scalability, security and decentralization – by enabling interoperability and composability between the rollups, including Base.

The base is now open for bridging

Base will open to everything on August 9

We help organize an onchain festival to celebrate

ɪᴛ’ꜱ ᴏɴᴄʜᴀɪɴ ꜱᴜᴍᴍᴇʀ 🟡https://t.co/p8KTcnkbbx

— Base 🛡️ (@BuildOnBase) August 3, 2023

Optimism wants to evolve into a “superchain” of L2 chains, allowing Ethereum to scale effectively. The superchain provides shared security and tools for developers to interact and create Optimism-compatible L2s that work with regular wallets. Coinbase and Optimism have been working together for over a year and have contributed to the development of EIP-4844, an Ethereum upgrade that could drastically reduce L2 transaction costs.

What the future holds for Base

In July, Base became available for developers to test their applications on the new network. According to a Coinbase blog post, users can now transfer their ether (ETH) to Base. The update coincides with Coinbase’s upcoming Q2 earnings report and the start of “Onchain Summer,” a series of events for creators and developers to create art or develop applications on Base. Participants include Coca-Cola, Atari and the non-fungible token platform OpenSea.

See also  FC Barcelona secures $132 investment for blockchain and NFT venture

The launch marks Coinbase’s strategic commitment to web3 and L2 adoption, with a view to potential future revenue. Given the increasing demands of blockchain networks — whether for decentralized finance (DeFi), non-fungible tokens (NFTs), or myriad other applications — Layer-2s are emerging as an effective solution to improve scalability.

Base recently announced that the mainnet will be open to all users on August 9, providing a comprehensive platform to explore the various possibilities within blockchain technology.

According to Base, “Our mission remains unwavering: to usher in the next million builders and one billion users on-chain.”



Source link

Coinbases Ethereum Heres layer2
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

NFT -Market sees mixed results, polygon leads while Ethereum Collections is back

2025-06-01

Ethereum & Solana Investors are expressing despite the silence of SEC – here is why

2025-06-01

Performance Art Duo Operator ‘Make Movement Collectible’ with NFTS

2025-05-31

Ethereum turns Bullish while Shiba Inu is preparing for the next leg up; Experts consider this AI-driven asset manager as the future of Defi

2025-05-31
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Bitcoin price remains below $38,000 during BlackRock-SEC talks

2023-11-30

A look at what’s ahead for the Tron Network

2023-11-05

Analyst predicts ‘violent’ rallies for Altcoin in Ethereum, says RWA-oriented Munt a good game in the short term

2025-01-28
Editors Picks

Lens protocol profiles NFT drops more than 60% due to user concerns

2023-07-15

SEC Fines Digital Currency Group $38,000,000, Claims Crypto Venture Firm Misled Investors

2025-01-19

Netmarble and The Sandbox launch the Meta World My City NFT collection

2024-03-22

Don’t Sell Your Bitcoin Yet: This Executive Explains Why You Should HODL BTC

2024-03-15

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin price risks are broken down to $ 92,000 when it enters the battery phase

Taskon Partners GPT360 to accelerate the expansion of the Web3 community

Is Solana’s newest divergence the first sign of a trend shift for the price of Altcoin?

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$104,344.540.44%
  • ethereumEthereum(ETH)$2,483.38-0.34%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.150.58%
  • binancecoinBNB(BNB)$652.250.41%
  • solanaSolana(SOL)$153.971.98%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.1899521.18%
  • tronTRON(TRX)$0.2685910.53%
  • cardanoCardano(ADA)$0.671.28%
  • suiSui(SUI)$3.261.28%
  • hyperliquidHyperliquid(HYPE)$32.642.79%
  • chainlinkChainlink(LINK)$13.70-0.17%
  • avalanche-2Avalanche(AVAX)$20.310.01%
  • stellarStellar(XLM)$0.2642880.42%
  • bitcoin-cashBitcoin Cash(BCH)$402.751.14%
  • unus-sed-leoUNUS SED LEO(LEO)$8.39-3.29%
  • the-open-networkToncoin(TON)$3.110.12%
  • shiba-inuShiba Inu(SHIB)$0.0000130.09%
  • hedera-hashgraphHedera(HBAR)$0.1677841.56%
  • litecoinLitecoin(LTC)$87.971.95%
  • moneroMonero(XMR)$347.606.84%
  • polkadotPolkadot(DOT)$3.97-0.73%
  • ethena-usdeEthena USDe(USDE)$1.000.01%
  • bitget-tokenBitget Token(BGB)$4.711.32%
  • daiDai(DAI)$1.000.01%
  • pepePepe(PEPE)$0.0000111.01%
  • piPi(PI)$0.641.22%
  • uniswapUniswap(UNI)$6.12-0.12%
  • aaveAave(AAVE)$241.320.58%
  • bittensorBittensor(TAO)$408.91-1.43%
  • okbOKB(OKB)$49.69-0.42%
  • aptosAptos(APT)$4.680.31%
  • nearNEAR Protocol(NEAR)$2.380.41%
  • crypto-com-chainCronos(CRO)$0.1041221.31%
  • ondo-financeOndo(ONDO)$0.821.10%
  • internet-computerInternet Computer(ICP)$4.840.35%
  • ethereum-classicEthereum Classic(ETC)$16.830.83%
  • gatechain-tokenGateToken(GT)$19.200.15%
  • mantleMantle(MNT)$0.681.01%
  • official-trumpOFFICIAL TRUMP(TRUMP)$11.100.50%
  • kaspaKaspa(KAS)$0.0844091.09%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2119260.34%
  • usd1World Liberty Financial USD(USD1)$1.000.01%
  • vechainVeChain(VET)$0.0238850.73%
  • render-tokenRender(RENDER)$3.80-0.07%
  • ethenaEthena(ENA)$0.302677-0.38%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.73-0.23%
  • worldcoin-wldWorldcoin(WLD)$1.120.99%
  • filecoinFilecoin(FIL)$2.52-0.31%
  • bitcoinBitcoin(BTC)$104,344.540.44%
  • ethereumEthereum(ETH)$2,483.38-0.34%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.150.58%
  • binancecoinBNB(BNB)$652.250.41%
  • solanaSolana(SOL)$153.971.98%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.1899521.18%
  • tronTRON(TRX)$0.2685910.53%
  • cardanoCardano(ADA)$0.671.28%
  • suiSui(SUI)$3.261.28%
  • hyperliquidHyperliquid(HYPE)$32.642.79%
  • chainlinkChainlink(LINK)$13.70-0.17%
  • avalanche-2Avalanche(AVAX)$20.310.01%
  • stellarStellar(XLM)$0.2642880.42%
  • bitcoin-cashBitcoin Cash(BCH)$402.751.14%
  • unus-sed-leoUNUS SED LEO(LEO)$8.39-3.29%
  • the-open-networkToncoin(TON)$3.110.12%
  • shiba-inuShiba Inu(SHIB)$0.0000130.09%
  • hedera-hashgraphHedera(HBAR)$0.1677841.56%
  • litecoinLitecoin(LTC)$87.971.95%
  • moneroMonero(XMR)$347.606.84%
  • polkadotPolkadot(DOT)$3.97-0.73%
  • ethena-usdeEthena USDe(USDE)$1.000.01%
  • bitget-tokenBitget Token(BGB)$4.711.32%
  • daiDai(DAI)$1.000.01%
  • pepePepe(PEPE)$0.0000111.01%
  • piPi(PI)$0.641.22%
  • uniswapUniswap(UNI)$6.12-0.12%
  • aaveAave(AAVE)$241.320.58%
  • bittensorBittensor(TAO)$408.91-1.43%
  • okbOKB(OKB)$49.69-0.42%
  • aptosAptos(APT)$4.680.31%
  • nearNEAR Protocol(NEAR)$2.380.41%
  • crypto-com-chainCronos(CRO)$0.1041221.31%
  • ondo-financeOndo(ONDO)$0.821.10%
  • internet-computerInternet Computer(ICP)$4.840.35%
  • ethereum-classicEthereum Classic(ETC)$16.830.83%
  • gatechain-tokenGateToken(GT)$19.200.15%
  • mantleMantle(MNT)$0.681.01%
  • official-trumpOFFICIAL TRUMP(TRUMP)$11.100.50%
  • kaspaKaspa(KAS)$0.0844091.09%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2119260.34%
  • usd1World Liberty Financial USD(USD1)$1.000.01%
  • vechainVeChain(VET)$0.0238850.73%
  • render-tokenRender(RENDER)$3.80-0.07%
  • ethenaEthena(ENA)$0.302677-0.38%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.73-0.23%
  • worldcoin-wldWorldcoin(WLD)$1.120.99%
  • filecoinFilecoin(FIL)$2.52-0.31%