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Why is Coinbase's new chain Base a milestone?

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Bankless founder Ryan Adams gave Coinbase high marks for launching Ethereum Layer 2.

原文作者： Ryan Adams， Bankless 创始人

czgsws, BlockBeats

On February 23, Coinbase announced the launch of a test network of its Ethereum Layer 2 network ---- Base, with the goal of attracting the next billion users into the crypto economy. Coinbase is currently incubating the Base internally, and developers can already explore building on it at base.org. Bankless founder Ryan Adams had a very high opinion of the incident on social media, which BlockBeats compiled and compiled below:

Here are 10 reasons why I consider Coinbase's launch of its Layer 2 network a milestone:

1. They chose Ethereum to launch their Layer 2 network, which represents Coinbase's total trust in Ethereum.

2. This sets a precedent for other crypto companies to follow, then fintech companies, then banks, and eventually the world to use Ethereum as a universal settlement and property rights system.

3. This is the best way of decentralization available to the chain on the trading platform. There is no Token, no closed platform and all open source. This is a good thing for the value of encryption, more DeFi, less CeFi.

4. If Coinbase converts 20% of its 110 million verified users to Layer 2 users over the next few years, that alone will be 10 times the total number of encrypted native users.

5. This is a premium solution the crypto industry can offer regulators: "How will you protect retail investors when we have no control?" The answer is code regulation, a trust-free currency system based on transparent, open DeFi protocols.

6. This is very optimistic for Ethereum block space demand.

7. This will motivate Coinbase to build an infrastructure like IP-4844, which will speed up our progress.

8.Coinbase's legal and compliance team in the U.S. helped them roll out Base smoothly, which is a bullish thing because the current regulatory regime in the U.S. is pretty much the toughest.

9. This will enhance Layer 2's infrastructure, tools, and development.

10. This suggests that reliable neutral technologies, those that no one can control or corrupt, will prevail.