08-10-2023, 08:18 AM
Coinbase Launches Blockchain and Edges Closer to Goal of Reaching 1 Billion People
<p class="MsoNormal">Base, a
layer 2 blockchain created by Coinbase, the biggest cryptocurrency exchange
in the United States, went live for public access today (Wednesday).</p><p class="MsoNormal">This creation <a href="https://www.coinbase.com/blog/the-coinbase-secret-master-plan" target="_blank" rel="follow">aims to reach 1 billion
people</a> through
decentralised applications (DApps) built on blockchains by the publicly traded company, which is one of the largest digital asset
exchanges in the world.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">ᴏɴᴄʜᴀɪɴ ? ꜱᴜᴍᴍᴇʀToday's the day—<a href="https://twitter.com/BuildOnBase?ref_src=twsrc%5Etfw">@BuildOnBase</a> mainnet is here. Time to bring the next billion users onchain.Mint “Base Day One” and watch the NFT evolve as more people come onchain.<a href="https://t.co/S7a1p0QShP">https://t.co/S7a1p0QShP</a> <a href="https://t.co/kV1F4lgVna">pic.twitter.com/kV1F4lgVna</a></p>— Coinbase ?️ (@coinbase) <a href="https://twitter.com/coinbase/status/1689320915937705985?ref_src=twsrc%5Etfw">August 9, 2023</a></blockquote><p class="MsoNormal">Base Goes
Live for Public Use</p><p class="MsoNormal">With the
launch of the network, which will enable users to transfer Ether between the
Ethereum <a href="https://www.financemagnates.com/terms/m/mainnet/" class="terms__main-term" id="845b945d-4690-4e10-9e6f-24c824b5373d">mainnet</a> and Base, Coinbase has joined the likes of public firms such as IBM
and Microsoft, that have launched their <a href="https://www.financemagnates.com/terms/b/blockchain/" class="terms__secondary-term" id="be18ed01-45fc-4044-b447-06802a10dbcd">blockchain</a> networks. The new venture
will enable Coinbase to earn revenue from DApps built on the network. </p><p class="MsoNormal">“Base is an
investment in innovation, not to earn a bunch of profits,” Jesse Polak, the creator
of Base and Head of Protocols at Coinbase, told CoinDesk in an interview, explaining
that more benefits of
cryptocurrencies create opportunities for monetization.</p><p class="MsoNormal">Already,
Base <a href="https://l2beat.com/scaling/summary'" target="_blank" rel="follow">has amassed over $140 million in total value locked (TVL)</a>, according to L2Beat, a crypto analytics and research
website. This is even as the platform
went live for developers earlier in July, enabling them to test DApps in the
network.</p><p class="MsoNormal">The TVL
makes Base the fifth largest layer 2 blockchain, behind dYdX, zkSync Era and OP
Mainnet. Arbitrum One leads the pack with over $6
billion in TVL, L2Beat data shows.</p><p class="MsoNormal">
As part of the Base launch, today Coinbase launched ‘Onchain Summer’, which it
describes as a multi-week celebration of art, culture, gaming and community. The event will host several top brands, including Coca-Cola.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">ᴏɴᴄʜᴀɪɴ ? ꜱᴜᴍᴍᴇʀGet ready. Bridge your ETH.<a href="https://t.co/13KAKtvfUu">https://t.co/13KAKtvfUu</a></p>— Coinbase ?️ (@coinbase) <a href="https://twitter.com/coinbase/status/1688616214061527043?ref_src=twsrc%5Etfw">August 7, 2023</a></blockquote><p class="MsoNormal">Coinbase’s
Financial Standing</p><p class="MsoNormal">Meanwhile,
the public launch of Base is parallel with the cryptocurrency exchange’s
efforts <a href="https://www.financemagnates.com/cryptocurrency/coinbase-narrows-losses-in-q2-despite-declining-trading-volumes/" target="_blank" rel="follow">to narrow its losses</a> as trading volumes decline. During
the second quarter of this year, Coinbase’s net loss decreased from $1.1
billion to $97 million, <a href="https://www.financemagnates.com/" target="_blank" rel="follow">Finance Magnates</a> reported.</p><p class="MsoNormal">The crypto
exchange is also <a href="https://www.financemagnates.com/institutional-forex/coinbase-repurchases-1b-bonds-after-strong-quarter/" target="_blank" rel="follow">repurchasing a portion
of its $1 billion bond</a> expiring in September 2031. The buyback is being handled by Citigroup’s brokerage arm and will enable the Nasdaq-listed firm to
reduce its interest expenses. </p><p class="MsoNormal">GO Markets expands into Asia; BaFin investigates Worldcoin; <a href="https://www.financemagnates.com/forex/news-nuggets-9-august-go-markets-expands-into-asia-bafin-investigates-worldcoin/" target="_blank" rel="follow">read today's nuggets</a>.</p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
https://www.financemagnates.com//cryptoc...1b-people/
<p class="MsoNormal">Base, a
layer 2 blockchain created by Coinbase, the biggest cryptocurrency exchange
in the United States, went live for public access today (Wednesday).</p><p class="MsoNormal">This creation <a href="https://www.coinbase.com/blog/the-coinbase-secret-master-plan" target="_blank" rel="follow">aims to reach 1 billion
people</a> through
decentralised applications (DApps) built on blockchains by the publicly traded company, which is one of the largest digital asset
exchanges in the world.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">ᴏɴᴄʜᴀɪɴ ? ꜱᴜᴍᴍᴇʀToday's the day—<a href="https://twitter.com/BuildOnBase?ref_src=twsrc%5Etfw">@BuildOnBase</a> mainnet is here. Time to bring the next billion users onchain.Mint “Base Day One” and watch the NFT evolve as more people come onchain.<a href="https://t.co/S7a1p0QShP">https://t.co/S7a1p0QShP</a> <a href="https://t.co/kV1F4lgVna">pic.twitter.com/kV1F4lgVna</a></p>— Coinbase ?️ (@coinbase) <a href="https://twitter.com/coinbase/status/1689320915937705985?ref_src=twsrc%5Etfw">August 9, 2023</a></blockquote><p class="MsoNormal">Base Goes
Live for Public Use</p><p class="MsoNormal">With the
launch of the network, which will enable users to transfer Ether between the
Ethereum <a href="https://www.financemagnates.com/terms/m/mainnet/" class="terms__main-term" id="845b945d-4690-4e10-9e6f-24c824b5373d">mainnet</a> and Base, Coinbase has joined the likes of public firms such as IBM
and Microsoft, that have launched their <a href="https://www.financemagnates.com/terms/b/blockchain/" class="terms__secondary-term" id="be18ed01-45fc-4044-b447-06802a10dbcd">blockchain</a> networks. The new venture
will enable Coinbase to earn revenue from DApps built on the network. </p><p class="MsoNormal">“Base is an
investment in innovation, not to earn a bunch of profits,” Jesse Polak, the creator
of Base and Head of Protocols at Coinbase, told CoinDesk in an interview, explaining
that more benefits of
cryptocurrencies create opportunities for monetization.</p><p class="MsoNormal">Already,
Base <a href="https://l2beat.com/scaling/summary'" target="_blank" rel="follow">has amassed over $140 million in total value locked (TVL)</a>, according to L2Beat, a crypto analytics and research
website. This is even as the platform
went live for developers earlier in July, enabling them to test DApps in the
network.</p><p class="MsoNormal">The TVL
makes Base the fifth largest layer 2 blockchain, behind dYdX, zkSync Era and OP
Mainnet. Arbitrum One leads the pack with over $6
billion in TVL, L2Beat data shows.</p><p class="MsoNormal">
As part of the Base launch, today Coinbase launched ‘Onchain Summer’, which it
describes as a multi-week celebration of art, culture, gaming and community. The event will host several top brands, including Coca-Cola.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">ᴏɴᴄʜᴀɪɴ ? ꜱᴜᴍᴍᴇʀGet ready. Bridge your ETH.<a href="https://t.co/13KAKtvfUu">https://t.co/13KAKtvfUu</a></p>— Coinbase ?️ (@coinbase) <a href="https://twitter.com/coinbase/status/1688616214061527043?ref_src=twsrc%5Etfw">August 7, 2023</a></blockquote><p class="MsoNormal">Coinbase’s
Financial Standing</p><p class="MsoNormal">Meanwhile,
the public launch of Base is parallel with the cryptocurrency exchange’s
efforts <a href="https://www.financemagnates.com/cryptocurrency/coinbase-narrows-losses-in-q2-despite-declining-trading-volumes/" target="_blank" rel="follow">to narrow its losses</a> as trading volumes decline. During
the second quarter of this year, Coinbase’s net loss decreased from $1.1
billion to $97 million, <a href="https://www.financemagnates.com/" target="_blank" rel="follow">Finance Magnates</a> reported.</p><p class="MsoNormal">The crypto
exchange is also <a href="https://www.financemagnates.com/institutional-forex/coinbase-repurchases-1b-bonds-after-strong-quarter/" target="_blank" rel="follow">repurchasing a portion
of its $1 billion bond</a> expiring in September 2031. The buyback is being handled by Citigroup’s brokerage arm and will enable the Nasdaq-listed firm to
reduce its interest expenses. </p><p class="MsoNormal">GO Markets expands into Asia; BaFin investigates Worldcoin; <a href="https://www.financemagnates.com/forex/news-nuggets-9-august-go-markets-expands-into-asia-bafin-investigates-worldcoin/" target="_blank" rel="follow">read today's nuggets</a>.</p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
https://www.financemagnates.com//cryptoc...1b-people/