HomeBlockchainCoinbase Incubated Basenet Targets Mainnet Launch – A Boon for Ethereum Layer...

Coinbase Incubated Basenet Targets Mainnet Launch – A Boon for Ethereum Layer 2 Ecosystem


Base, a Coinbase-backed Ethereum Layer 2 (L2) network, is gearing up for a mainnet launch, bringing its low-cost and secure solution for decentralized application (dApp) development to the forefront of the blockchain world. The news, published in a blog post, describes Base’s dedication to security, stability, and Optimism’s successful update of Bedrock.

The Base project was started to further Coinbase’s mission of expanding economic freedom globally. By providing a platform for the next wave of developers and users, Base aims to attract millions into the crypto economy. The launch of the network’s mainnet, known as Mainnet Genesis, is expected to offer a scalable, inexpensive, and secure way to transact on the Ethereum network.

Throughout its testnet phase, Base has seen great reception from the developer community, which has led to a wide range of projects being deployed on the testnet. Applications span numerous industries including gaming, NFTs, infrastructure, developer tools, security, DeFiand more.

The blog post highlighted several intriguing projects that are already capitalizing on Base functionality. These include Blackbird, a restaurant loyalty rewards platform, Parallel, an NFT-based collectible card game, Thirdweb, a blockchain development toolkit to facilitate dApp implementation, and OAK, a community currency. aimed at boosting local economies.

Blackbird aims to revolutionize restaurant loyalty programs with a platform that incentivizes repeat customers. Early initiatives include a rewards program for Williamsburg’s GERTIE restaurant and Upside Pizza Club, a membership offering daily slices of pizza and exclusive access to events.

Parallel is set to transport its sci-fi universe to the Base Mainnet, with the goal of giving users real ownership of their cards and in-game items, all while fighting interstellar factions. The switch to Base will allow users to collect and play with significantly reduced fees.

Thirdweb is making strides to make blockchain development accessible. The company released Web3 Warriors, the first full-scale game on Base, in three weeks, showcasing the speed and efficiency of its development toolset.

Finally, OAK is using Base to foster a thriving local economy in Oakland. Residents can use the OAK-branded stablecoin with local merchants, helping local businesses, lowering transaction fees, and supporting local causes. Despite these promising developments, the Base team clarified that there are no plans to issue a network token. As the project progresses towards launching its mainnet, stability, security, and completion of necessary reviews and audits remain its primary focus.


Please enter your comment!
Please enter your name here


Heath Tarbert joins Circle as General Counsel and Director of Corporate Affairs

In an exciting development for the global fintech industry, Circle Internet Financial has appointed Heath Tarbert as its new Chief Legal Officer and Head of...

Here is the bullish case for Ethereum Rival Solana (SOL), according to InvestAnswers

A widely followed analyst is giving a bullish outlook on the blockchain development of Ethereum (ETH) competitor Solana (SOL). In a new interview with Paul Barron,...

Rich Dad Poor Dad Author Says Biggest Real Estate Crash in History Is Coming, Calls BTC and Precious Metals the Answer

Rich Dad Poor Dad author Robert Kiyosaki once again predicts that the real estate sector will collapse and cause a severe global financial crisis. Former best-selling...

Binance Pay and Credencial Payments join forces to enable real-time crypto payments in Latin America

In a strategic alliance that aims to revolutionize the digital payments landscape, Binance Pay, the digital payments platform of the world's largest cryptocurrency exchange, Binance,...

Most Popular