Base: The Rise and Challenges of the New Star in the Ethereum Layer 2 Network

robot
Abstract generation in progress

Base: Building the Next Generation Ethereum Layer 2 Network

Base is an Ethereum Layer 2 network built on the open-source OP Stack. It aims to provide security and scalability for decentralized applications while maintaining low costs and high performance.

The Main Advantages of Base

  1. Sharing the security of Ethereum
  2. Powerful features coexist with low costs
  3. Full EVM Compatibility
  4. Open Source Technology Stack

BASE: What Coinbase and its kingdom want to do

The Original Intention of Building Base

In the past few years, a certain trading platform has gradually launched several native on-chain products, such as USDC and cbETH. These products have brought considerable activity and revenue to the platform. In the future, the team hopes to develop more products that fully leverage the capabilities of the on-chain environment in order to bring more users into the crypto economy.

To achieve this goal, it is necessary to make it easier for developers to build decentralized applications. This is precisely the original intention of the Base project.

Core Principles of Base

  1. Be a bridge rather than an island: connect the Ethereum mainnet, other layer 2 networks, and other public chain ecosystems.
  2. Decentralization: Although initially incubated by a certain trading platform, it will develop towards full decentralization in the future.
  3. Open Source: Built on the OP Stack under MIT license, community contributions are welcome.
  4. For Everyone: Build an open ecosystem and collaborate with a broader community.

Project Progress

  • February 2023: Launched testnet
  • February 2023: Several well-known projects announced their entry into the Base ecosystem.
  • March 2023: Providing bounties for infrastructure developers

BASE: What Coinbase and its kingdom want to do

2023 Roadmap

  1. Start the Fault Proofing Device
  2. The upgradeability of decentralized smart contracts
  3. Launch the initial version of the Super Chain
  4. 2024 Goals: Advance Base to the 2nd Phase Rollup

Summary

Base and Optimism are both built on the OP Stack. Base aims to attract more developers to build applications and layer 2 networks on the OP Stack, ultimately creating a highly interoperable and low-cost transaction Ethereum superchain ecosystem among multiple chains.

Thinking

The emergence of Base reflects the industry's trend from "beyond Ethereum" to "developing around Ethereum." The challenges it faces include how to maintain competitiveness without issuing tokens and how to achieve decentralization in a strict regulatory environment.

In the future, whether Base can successfully balance regulatory compliance and user attraction, as well as how it can compete with other layer two networks without issuing tokens, will be a focal point worthy of attention.

BASE: What Coinbase and its kingdom want to do

ETH0.92%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 7
  • Repost
  • Share
Comment
0/400
mev_me_maybevip
· 08-09 22:07
Another one trying to ride the L2 hype?
View OriginalReply0
LiquidatedAgainvip
· 08-09 01:09
Get Liquidated standby Margin Replenishment is always at a high point
View OriginalReply0
ChainSpyvip
· 08-07 06:37
Low gas is really nice.
View OriginalReply0
PessimisticLayervip
· 08-07 06:33
Watching base on fire, but not in a hurry to play right away.
View OriginalReply0
alpha_leakervip
· 08-07 06:32
The gas fee is so low, I've topped up.
View OriginalReply0
MaticHoleFillervip
· 08-07 06:32
base has potential
View OriginalReply0
MainnetDelayedAgainvip
· 08-07 06:26
According to the database, the project party mentioned scalability for the 7th time, and it is still in the stage of making promises, waiting for the flowers to bloom~
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)