Coinbase is set to launch its layer 2 network, Base, on the mainnet in 2023. Base, which is focused on the Ethereum blockchain, was launched in February of this year and has been in the test phase since then.
Jesse Pollak, Head of Base and Head of Protocol at Coinbase, spoke exclusively to TechCrunch and revealed that the main goal of Base is to bring a million builders and a billion users on-chain through “easy to use” products on its platform. Pollak also mentioned that the near-term plan is for Base to enter the mainnet and be decentralized.
Pollak added that becoming decentralized is a top priority for Base and the rest of the year is focused on making sure they achieve this as quickly as possible. The process of becoming decentralized is not a “forever timeline,” but rather a question of “how do we make progress on this today,” Pollak said. He also mentioned that the plan is to become decentralized from Coinbase within “months or years” rather than a decade.
Coinbase CEO Brian Armstrong echoed Pollak’s sentiments, saying that they can’t avoid decentralization and have to live up to the value and ethos of decentralization. Coinbase has been building in the crypto economy for over a decade, and with Base, the company hopes to derive value for itself while helping products and activities expand on-chain over the next decade.
Several crypto businesses, platforms, marketplaces, and infrastructure firms have committed to building on Base, including Blockdaemon, Chainlink, Etherscan, Quicknode, Aave, Animoca Brands, Dune, Nansen, Magic Eden, Pyth, Rainbow Wallet, Ribbon Finance, The Graph, Wormhole, and Gelato.
Pollak, who previously led all retail engineering at Coinbase, emphasized the importance of developers growing internationally, community benefits building on Base, blockchain inspiration, and Base’s performance to date. He also offered advice for developers looking to build on Base and emphasized the importance of a strong community and an open-source mindset.
With Base’s mainnet launch just around the corner, the decentralized future of cryptocurrency looks bright. The platform’s goal of bringing a million builders and a billion users on-chain is ambitious, but with Coinbase’s expertise and a slew of partners backing the project, it’s an achievable target.
Read more:
- Coinbase Launches Base, An Ethereum Layer 2 Network Using Optimism’s OP Stack
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