Coinbase, the largest publicly-traded crypto exchange in the U.S., launched a bridge for its Ethereum layer-2 blockchain “Base,” on Thursday and set Base’s mainet launch for Aug. 9.
See related article: BlackRock files for spot Bitcoin ETF, taps Coinbase as custodian
Fast facts
- From Thursday, users can bridge their Ether to the Base network, according to a Twitter post by Base. A “bridge” is a tool that allows users to move their crypto assets from one blockchain to another.
- Introduced by Coinbase in February 2023, Base is an Ethereum layer-2 blockchain built in collaboration with blockchain developer Optimism, which aims to provide a safe and low-cost platform for blockchain application developers. Coinbase currently has no plans to issue a network token for Base, and will use Ether as the blockchain’s native gas token.
- “Since we announced Base, our mission has been clear and consistent: bring the next billion users and next million builders on chain,” said Jesse Pollak, the creator of Base and head of protocols at Coinbase, in a Thursday announcement.
- Base opened its mainet to builders on July 14, allowing users to bridge Ether to the Base network with certain developer tools. Over US$90 million worth of Ethers have been bridged to Base so far, according to blockchain analytics platform Dune Analytics.
- Together with the Base mainet launch, Coinbase will also kick off Onchain Summer on August 9, a month-long celebration of blockchain art, music, gaming and more, as part of the promotion for the Base blockchain. Participating companies include Coca-Cola, game developer Atari and NFT marketplace OpenSea.
- Base saw a memecoin scam before the mainet launch. BALD token, a memecoin launched on Base on July 30, turned out to be a rug pull after its developers removed US$25.6 million in liquidity. The token’s price has slumped over 70% from its height of US$$0.02795 on Aug. 1.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
- Source: https://forkast.news/headlines/coinbase-sets-base-mainet-launch-date/
- :has
- :is
- 1
- 14
- 2023
- 30
- 9
- a
- According
- After
- aims
- Allowing
- allows
- also
- an
- analytics
- and
- announced
- Another
- Application
- Art
- article
- AS
- Assets
- At
- atari
- Aug
- AUGUST
- base
- BE
- been
- before
- Billion
- Bitcoin
- Bitcoin ETF
- blockchain
- BLOCKCHAIN ANALYTICS
- Blockchain Developer
- BRIDGE
- bridged
- bring
- builders
- built
- by
- CAN
- Celebration
- certain
- chain
- clear
- coca-cola
- coinbase
- collaboration
- Companies
- consistent
- creator
- crypto
- crypto exchange
- crypto-assets
- Currently
- Date
- Developer
- developers
- ETF
- Ether
- ethereum
- exchange
- far
- February
- Files
- For
- from
- game
- gaming
- GAS
- Have
- head
- height
- HTTPS
- in
- include
- issue
- ITS
- jpg
- July
- kick
- largest
- launch
- launched
- launches
- Liquidity
- low-cost
- marketplace
- Memecoin
- million
- mirror
- Mission
- more
- move
- Music
- native
- network
- next
- NFT
- nft marketplace
- no
- of
- off
- on
- ONE
- opened
- OpenSea
- Optimism
- our
- out
- over
- part
- participating
- plans
- platform
- plato
- Plato Data Intelligence
- PlatoData
- price
- promotion
- protocols
- provide
- related
- Removed
- s
- safe
- Said
- saw
- Scam
- set
- Sets
- So
- so Far
- Spot
- Spot Bitcoin Etf
- Taps
- that
- The
- their
- thursday
- to
- token
- tool
- tools
- Turned
- u.s.
- use
- users
- we
- which
- will
- with
- worth
- zephyrnet