Base mainnet, a blockchain network developed by Coinbase cryptocurrency exchange, has officially opened to the general public. The Base Network currently features over 100 dApps and service providers as part of its ecosystem.
According to Jesse Pollak, the lead for protocols at Coinbase, users can investigate these dapps and gain from lower transaction fees and quicker transaction speeds compared to Ethereum.
The Base Network has 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.
- The Base Network is built on Optimism’s software stack called OP Stack.
- It is a Layer 2 solution that aims to offer dApps an alternative to Ethereum.
- Base offers lower transaction fees and higher transaction speeds.
Offering an alternative to Ethereum
Base Network is developed on Optimism’s software stack called OP Stack. The network is a Layer 2 solution that operates as a rollup network. It is a scaling solution to process transactions off the main Ethereum blockchain, thereby offering a more affordable alternative for dApps.
Base is expected to become the default network for Coinbase’s on-chain products.
Both developers and users had transferred assets valued at over $100 million to the Base network in the lead-up to the mainnet launch. And in celebration of the mainnet launch, users will have the option to mint a unique “Base, Day One” NFT.
The official Base launch has coincided with the “onchain summer” event that is scheduled to run for several weeks. The event emphasizes promoting Base’s mainnet partner dApps in the realms of gaming, digital art, and music.