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Coinbase Launches Ethereum Layer 2 Network Base Powered by Optimism


  • Base is a fork of Optimism, one of the most active Ethereum layer 2 blockchains.
  • Coinbase (NASDAQ:COIN) said it had thought about launching its own chain twice in the past but decided not to do it.
  • Base will not have a token of its own.

Coinbase, one of the largest centralized cryptocurrency exchanges in the world, has surprised the market with a new product launch on Thursday.

Coinbase introduced Base, an Ethereum layer 2 network powered by Optimism, one of the most popular layer 2 blockchains. The new Coinbase product is open source but is still somewhat centralized, though Coinbase said Base will be decentralized progressively.

Coinbase stressed that Base will not have a token of its own.

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