Coinbase Ethereum Layer 2 Organization Base Prepares For Send off

Simply

• Coinbase’s Base is still in the testnet stage.
• Confidence Bedrock overhaul and reviews need finishing.
• Base intends to locally available one billion clients.

The Coinbase layer-2 network, Base, is moving along its plan to launch to the mainnet.

As the network gets ready for deployment, Base shared its launch criteria on May 24. It stated, “Base is preparing for the mainnet with safety and security as top priorities.”

A reminder that the Base token would not be launched was also included. However, when the network was first announced earlier this year, so-called “degens” continued to pump the unrelated BASE token.

Base Eyeing a Billion Users

As the network is upgraded and battle-tested in preparation for full launch, the Base testnet has been operational since February.

Base is an Ethereum layer-2 organization based on the Confidence Over powered stack. In addition, the objective is to offer developers a cost-effective and secure method for developing decentralized apps on the chain. As part of its mission to “increase economic freedom and opportunity around the world,” Coinbase has lofty goals for Base.

“To advance this purpose, Base is providing a platform to onboard the next million developers and billion users into the cryptoeconomy.”

The testing stage has seen Base utilized for gaming, NFTs, foundation, engineer tooling, wallets, security, DeFi, prophets, investigation, connecting, installments, DAOs, and social applications.

It promoted various use case models. Blackbird, a restaurant loyalty platform, Parallel, an NFT-based trading card game, and the Blockchain development toolkit Thirdweb are all included in this.

It has finished two of the five standards recorded for send off. These include successfully completing a Regolith hard fork in testnet and an infrastructure review with the OP Labs team.

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The Optimism Bedrock upgrade, internal and external audits without critical severity issues, and testnet stability are the outstanding items.

On the way to the mainnet, there will also be a “Genesis Window.” This is a period for engineers to convey decentralized applications on Base.

A timetable for the launch of the mainnet was the main piece of information that was left out of the update. It did, however, state that this was not a priority.

“Our most important priorities are to ensure the safety and security of the network, followed by clear communication so developers can prepare. Timely mainnet deployment ranks third.”

Coinbase Branching Into Europe

Coinbase and Bitpanda have reportedly formed a partnership, according to reports. The Austrian-based crypto trade and exchanging stage will work with Coinbase to associate its clients to banks in Europe.

The move is the latest effort by Coinbase to put more distance between it and the wrath of U.S. regulators.