Base Network, the blockchain developed by Coinbase cryptocurrency exchange, has been opened to the general public. It currently offers over 100 dApps and service providers in its ecosystem.
Lead for protocols at Coinbase, Jesse Pollak, said users can benefit from its lower transaction fees and quicker transaction speeds compared to Ethereum.
Base has been integrated with a wide range of cryptocurrency projects including DeFi protocols, wallets, bridges, oracles, and both analytics and infrastructure providers since its developer-only release in July and the testnet launch in February. It is built on Optimism’s software stack called OP Stack and operates as a Layer 2 solution, offering an alternative to Ethereum.
To celebrate the mainnet launch, users have the option to mint a unique “Base, Day One” NFT. Additionally, the “onchain summer” event, scheduled to run for several weeks, aims to promote Base’s mainnet partner dApps in gaming, digital art, and music.
In the lead-up to the mainnet launch, developers and users had transferred assets valued at over $100 million to the Base network. Coinbase also expects Base to become the default network for its on-chain products.