Crypto News: Crypto exchange Coinbase’s entry into the Layer 2 space is apparently making steady progress toward a mainnet launch soon. In February 2023, a testnet version of the Ethereum Layer 2 network was unveiled. Base was launched as a platform that makes it easy for developers to build and connect apps to the Coinbase product suite for ease of use. The developers said in a latest update that the Base mainnet is considered a priority.

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Base Mainnet launch

Meanwhile, a Coinbase executive has spilled the beans on the possible timeline for the Base mainnet launch. The mainnet launch is scheduled for 2023 as the team prioritizes delivering it as soon as possible. However, the official launch dates are yet to be determined. Base leader Jesse Pollak said the overall vision is to unite builders and users on the blockchain.

The Ethereum Layer 2 blockchain comes as a potential rival to existing Layer 2 blockchains given the wide reach of the crypto exchange. Pollak said the launch is now the number one priority, according to a TechCrunch report:

“It is coming, we are working hard on it. It is our number one priority alongside the decentralization targets and the rest of the year is about making sure we get there as quickly as possible.”

The executive said the bigger plan is to unite Base with Coinbase to “chain millions of developers and billions of users.”

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Anvesh reports major developments around crypto adoption and trading opportunities. He has been associated with the industry since 2016 and is now a strong advocate for decentralized technologies. Anvesh is currently based in India. Contact him at [email protected]

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