As the crypto industry continues to grow, Coinbase, one of the largest exchanges in the industry, has made steady progress with its Ethereum Layer 2 solution, Base. Launched in February as a platform that simplifies app development and integration with the Coinbase suite of products, Base runs on testnet and is now gearing up for a mainnet launch in 2023.
Base is growing to bring millions of developers and users on-chain
In an exclusive interview With TechCrunch, Jesse Pollak, Base Manager and Head of Protocols at Coinbase, revealed that launching the mainnet is the team’s top priority. Although no official timeline was shared, Pollak stressed the urgency of delivering the mainnet as soon as possible. Base aims to unite millions of developers and billions of users on the blockchain, driving widespread adoption and innovation in the space. Pollack said,
“It’s coming soon, we’re working hard on it. This is our number one priority alongside the decentralization goals and the rest of the year is really about making sure we get there as quickly as possible.
Coinbase has been a key player in the crypto economy for over a decade. With Base, the company hopes to capture value for itself and contribute to the expansion of chain products and activities in the years to come. Pollak envisions Base and Coinbase working in tandem to bring countless developers and users to the chain, furthering the growth of the blockchain ecosystem.
Decentralization and Expansion Goals Drive Grassroots Development
A wide range of crypto businesses, platforms, marketplaces, and infrastructure companies have pledged to build on Base. Among them are Blockdaemon, Chainlink, Etherscan, Quicknode, Aave, Animoca Brands, Dune, Nansen, Magic Eden, Pyth, Rainbow Wallet, Ribbon Finance, The Graph, Wormhole, and Gelato.
In the short term, Base’s main goals are to achieve mainnet status and decentralize its operations. Coinbase CEO Brian Armstrong emphasized the importance of decentralization, stating that it is imperative that Base lives up to this value and philosophy. Pollak expects the decentralization process to take months or years, rather than a decade. The focus remains on daily progress towards this goal.
The future of Base, its impact on the Ethereum ecosystem, and the potential influence of regulation on the blockchain were discussed at length during Pollak’s interview. As previously reported by Coinpedia, Coinbase has made notable progress in obtaining a license to operate in Bermuda, a strategic move aimed at escaping the complex regulatory landscape of the United States.
As the mainnet launch nears, the crypto community will be watching closely to see how Base shapes the future of Ethereum-based app development and pilots Coinbase globally.