Farukh Kitchlew | Feb 19, 2024 | 0
Coinbase set to launch blockchain platform Base
Coinbase, one of the world’s leading cryptocurrency exchanges, is gearing up to launch its highly anticipated blockchain platform, Base, to the public. After months of development and testing, Base is set to go live on August 9th.
The launch of Base is a significant milestone for Coinbase as it expands its offerings beyond traditional cryptocurrency exchange services. By providing a user-friendly interface and robust infrastructure, Base aims to bridge the gap between everyday users and the complex world of blockchain. Moreover, the platform will enable users to access and use various dApps without the need for extensive technical knowledge or expertise. This democratization of blockchain technology will open up new possibilities for users to engage in decentralized finance, gaming, and other emerging sectors.
Upon the launch, Base will also kick off its Onchain Summer initiative which aims to reframe the narrative around crypto to something fun and engaging by partnering with big consumer brands such as Coca-Cola and Atari. The initiative will partner with Coinbase and over 50 brands, platforms, marketplaces, and creators.
So far, Base has seen over $68 million worth of ether bridged to the network and over $200 million in trading volume and transactions. Base will also introduce its native token, BASE, which will serve as the utility token within the platform. Users will be able to utilize BASE for transactions, staking, and participating in the governance of the platform. The introduction of BASE aims to incentivize users to actively engage with the Base ecosystem while ensuring its sustainable growth and development.
The launch of Base reflects Coinbase’s long-term vision to be at the forefront of blockchain innovation and adoption. By creating an accessible and user-centric platform, Coinbase aims to drive mainstream adoption of blockchain technology and expand the capabilities of cryptocurrencies beyond simple value transfer.