As the crypto industry continues to expand, Coinbase, one of the most prominent exchanges in the industry, has made steady progress with its Ethereum Layer 2 solution, Base. Launched in February as a platform that simplifies application development and integration with the Coinbase suite of products, Base has been operating on testnet and is now preparing for a mainnet launch in 2023.
Base gains momentum to attract millions of developers and users to the chain
In an exclusive interview with TechCrunch, Jesse Pollak, Base leader and head of protocols at Coinbase, revealed that launching the mainnet is the team’s top priority. Although no official timetable has been 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, fostering widespread adoption and innovation in the space. pollack said,
“It will arrive soon, we are working hard on it. It’s our number one priority along with 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 products and chain activities in the coming years. Pollak envisions Base and Coinbase working together to attract 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 companies, platforms, marketplaces, and infrastructure companies have committed to building on Base. These include 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 primary goals are to achieve mainnet status and decentralize its operations. Coinbase CEO Brian Armstrong has stressed the importance of decentralization, stating that it is imperative that Base lives up to that value and spirit. Pollak expects the decentralization process to take months or years, rather than a decade. The focus remains on making daily progress toward 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 in the United States.
As the mainnet launch approaches, the crypto community will be watching closely as Base shapes the future of Ethereum-based app development and propels Coinbase on a global scale.
This post Coinbase prepares to launch Base mainnet in 2023 amid regulatory pressure in the US.
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