Ethereum Two-Layer Network Base: A Month After Launch

03/31/2023 15:39 • Metaverse Matters • 143 views

According to reports, the Ethereum two-layer network Base launched by Coinbase has published a blog article reviewing the progress made since its launch a month ago. Base stated that it will play a role of bridge rather than island to promote cooperation with the community, making Base deeply interconnected with the wider ecosystem. In addition, Base also revealed that it will be introduced into the main network in the coming months.

Coinbase Ethereum L2 Network Base: Introduce the main network in the next few months

After its launch just a month ago, Coinbase’s Ethereum two-layer network Base has been making progress towards becoming a bridge between the community and the wider ecosystem. This article aims to review the development of Base and what it has in store in the coming months.

Background

Being a two-layer network built on top of Ethereum, Base’s primary purpose is to minimize congestion and fees in the Ethereum ecosystem. By incorporating off-chain transactions, Base frees up valuable space on the Ethereum main network and speeds up transaction times. This technology has been in use in Bitcoin with Lightning Network and is now being deployed on Ethereum.

Review of Progress

Base had a development roadmap before the launch of the network, and it has made significant progress towards achieving these goals. Some of the accomplishments include:

User Onboarding and Adoption

Base successfully onboarded dozens of Dapps in the last month, including DeFi and NFT projects, to their platform. This diversification is a clear win for the network as it aims to serve a variety of use cases. Additionally, the network has improved its interoperability, making it easier for developers to build and deploy on the network.

Open Source Development

As part of its commitment to decentralization and community contribution, Base has made its code open-source. This move will allow developers to contribute and find vulnerabilities in the code, making it more secure.

Better User Experience

Base has been working towards providing its users with a better experience, including better UI/UX, improved transaction speeds, and lower fees.

Future Plans

Looking forward, Base plans to take on several initiatives to further promote adoption and transparency in the ecosystem. These include:

Mainnet Integration

Base has expressed its intention to integrate into the Ethereum Mainnet in the coming months. This move will connect Base with the wider Ethereum ecosystem, making it more accessible to users.

Increased Marketing and Outreach

Base plans to increase its outreach efforts to attract developers and projects to build on its platform. Additionally, the network aims to partner with other organizations to promote interoperability and collaboration.

Development of the Network

In line with its commitment to decentralization, Base will continue to develop its network to ensure that it is user focused and secure.

Conclusion

In sum, Base has made considerable progress since its launch a month ago. Its success lies in its ability to serve as a bridge between the community and the wider ecosystem. With its open-source code and focus on user experience, Base continues to cement its position as the go-to network for Ethereum off-chain transactions.

FAQs

Q: Can anyone use Base?
A: Yes, Base is open to everyone who wishes to use it.
Q: Is Base secure?
A: Yes, Base employs advanced security measures to ensure the safety of its users.
Q: What currency can be used on Base?
A: Base is based on the Ethereum network, and hence, any cryptocurrency that is compatible with Ethereum can be used.

This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/11960.htm

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.