HomeEthereumNew Layer 2 Network Incubated by Coinbase Opens Mainnet for Builders

New Layer 2 Network Incubated by Coinbase Opens Mainnet for Builders


A Layer 2 Ethereum (ETH) chain incubated by Coinbase has just opened its mainnet to builders ahead of a general launch in early August.

The project, known as Base, notes in a press release that this new phase will allow builders to deploy their products on-chain and receive hands-on support from the development team in preparation for the official release.

Base is powered by the Optimism (OP) blockchain scaling solution, and its testnet launched in February.

The project is designed to be compatible with Ethereum, Ethereum layer-2s, and alternative layer-1 blockchains.

Base completed internal and external security audits earlier this month. The project says the audits did not reveal any critical severity bugs, giving the team behind the project “confidence to move towards the mainnet launch.”

Base is asking builders to postpone releasing their integrations until the official launch of the chain next month.

The project is also issuing a non-fungible token (NFT) called “Genesis Builder NFT” to reward early Base developers. To earn the NFT, builders need to deploy a decentralized application (DApp) on Base and complete an on-chain application.

Coinbase previously noted that it has no plans to issue a new network token. The major US crypto exchange says Base will be decentralized and permissionless.

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