Coinbase has publicly launched its Base mainnet, introducing a platform with over 100 dapps and several service providers.
Coinbase launched its Base mainnet to the public on Aug. 9. Its ecosystem contains over 100 decentralized applications (dapps) and service providers. This development addresses some challenges users face with the Ethereum (ETH) blockchain.
Jesse Pollak, the protocol lead at Coinbase, highlighted that Base offers a faster transaction pace and reduced transaction costs compared to Ethereum. However, as with any new technology, users and developers should conduct thorough research and testing to validate these claims.
The Base mainnet has its roots in a testnet that debuted in February, followed by a developer-specific release in July. Since then, it has engaged with various crypto projects, such as DeFi protocols, wallets, bridges, oracles, analytics, and infrastructure providers.
Base is built on the OP Stack software from Optimism (OP) and functions as a rollup network. This means it processes transactions outside the primary Ethereum blockchain. In theory, it should offer a more scalable environment for dapps. Layer-2 solutions like this are part of a broader industry trend to address the scalability and cost issues associated with main blockchain networks.
Alongside the Base mainnet’s public launch, there’s an ongoing “onchain summer” event. It showcases various dapps, focusing on digital art, music, and gaming. One feature of this event is the introduction of a “Base, Day One” NFT, which marks the mainnet’s debut.
In the lead-up to this launch, a significant data point was the transfer of assets worth over $100 million to the network by developers and users. This indicates an initial trust in the platform’s potential, but as with all new platforms, continuous monitoring and feedback will be essential to gauge its sustainability and reliability.
