Coinbase, one of the largest cryptocurrency exchanges, has recently launched a test network for its second-level Base solution. The technology is based on Ethereum and utilizes Optimism technologies.
The Base network, aimed at becoming the primary platform for building decentralized applications, has launched the Base testnet to attract developers and various projects. With Coinbase’s support, Base is expected to become a significant player in the Ethereum ecosystem, offering developers a secure, cost-effective, and user-friendly way to build decentralized applications.
According to Sebastien Guillemot, the co-founder of dcSpark, supporting the Base solution is a strategic move by Coinbase. He believes that Ethereum has become the hub of the cryptocurrency industry, and a considerable portion of the assets and transactions are conducted via second-level solutions.
Interestingly, the BASE token of the Base Protocol, which is unrelated to Coinbase, experienced a surge of 250% following the announcement, rising from $0.85 to $7. However, it soon dropped back down to $2.
Coinbase has also recently added support for the EUROC stablecoin, backed by the euro and issued by Circle, to its platform.