From Nasdaq: 2024-05-07 10:00:00

Coinbase introduces the Base network, a Layer 2 network on Ethereum, aiming to address Ethereum and Solana’s limitations. Ethereum boasts reliability but high fees, whereas Solana offers low fees but may experience slow transactions. Base aims to combine both for optimal performance.

A cryptocurrency is the native digital asset of a blockchain network, powering transactions and enabling developers to create decentralized applications (dApps). Bitcoin’s limitations led to the rise of alternative cryptocurrencies like Ethereum and Solana, offering different pros and cons in the crypto ecosystem. Ethereum is robust but has high fees, while Solana is more accessible with lower fees.

Coinbase’s Base network runs on Ethereum and offers low fees similar to Solana. Led by Jesse Pollak, the Base network has seen impressive growth, with a surge in trading volume on Uniswap. With more developers joining Base compared to Ethereum, the impending launch of Coinbase’s Smart Wallet is expected to boost traffic to the network.

Read more at Nasdaq: The new frontier: Coinbase’s Base Network is Shaping the Future of Decentralized Finance