What is Base? The Ethereum Layer-2 Network Launched by Coinbase
Coinbase launched its Ethereum layer-2 network, Base, in 2023 to facilitate cheaper and faster transactions while utilizing Ethereum's security. Base employs optimistic rollups and is designed to be open-source, decentralized, and interoperable, aiming to onboard billions of users into the crypto economy. The network does not have a native token, using Ethereum for transaction fees, and has no plans to create one. Base supports 492 DeFi protocols with over $2.8 billion in total-value-locked (TVL), led by the DEX Aerodrome. It also features a gaming ecosystem with over 117 games and various consumer applications, including decentralized social media. Base ranks as the largest layer-2 network by TVL and fifth in daily active addresses among all blockchains. Goals for 2025 include reaching 25 million users, 25,000 developers, and $100 billion in assets, focusing on enhancing developer experience and onboarding efficiency.
