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Coinbase launches own chain called BASE
It seems like coinbase is getting a little prepared for what could be a incoming bull run. The company just announced it's rolling out a layer 2 blockchain on the Ethereum network that they call BASE.
Base was originally part of the company only as a way to reduce costs and fees for transferring Ethereum and save on gas fees. The main goal of this release is to help others develop applications that are better and more useful.
This is a point I often bring up myself in that while crypto has come a long way it's currently rather stagnate in terms of building real world use cases. Sure we have some games and the start of some decent social applications but they are in Alpha or just down right gross in terms of what they do.
The Next Bull
The next wave of bull run not only will have AI at the front of it but also web3 and when I say web 3 I mean real social web applications that restore value back to the users and content creators of that platform and not directly all to the company like we see in web 2 applications.
This has been the goal for a while and a huge outcry for it came during the last president election but all applications lacked greatly and none really took off.
Instead what we saw was web 2 applications like twitter get taken over and then fake web 3 applications try and get people on to their platform. But I'm going to be honest here. They all suck and they all don't provide the promise of web 3. However it's a start of something that could be.
With the introduction of LeoThreads we are starting to see it finally take shape.
More On BASE
Base is a layer 2 blockchain however there are no plans of it having a token issued for it. Instead it seems to be a subset of Optimism or OP which jumped by 13.5% so far today on the news.
Base already has 48 projects in which range from DeFi, NFTs, Gaming, Chainline, Brands, Ribbon finance and a new interesting one called wormhole I found out about yesterday.
While many might shrug off this news I think it's important to note that crypto would be very small in terms of adoption if it wasn't for Coinbase in the early days. Coinbase allowed every day people to start investing and getting involved into the markets.
This could become a monumental shift to bring in a new age of application building with larger projects allowing for faster and more robust development compared to smaller mom and pop operations that have been taking years to turn anything small out.
This also means that bull run could be closer than we think as application development now becomes more compeditive and fuels a new evolution in blockchain, interment, finances and brings everything into a more digital era.
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Wow I am looking forward to see how the BASE blockchain will perform.
Looking forward to the applications being built on top of it. Coinbase has the resources to attract developers and fund projects.
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I think the next Bull run starts soon
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It wouldnt be strange if they also launch a DEX in case CEX business turns sour with all the regulation that is coming up, just saying as an option
Interesting that as an exchange business, they chose a different model to BSC and CRO to launch their chain.
Let the wars continue.
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This is the first time I am reading about their token. I wish them well. I just hope they get ready to move to a more decentralised existence as the SEC comes after them every week with new laws aiming at their jugular.
hmm that’s interesting. Now that they can’t stake customers funds for them, they can provide the tools for the customers to do it in a relatively safe environment on the BASE chain from the coinbase wallet.
I don’t think the SEC can stop that