Today, we are thrilled to announce the testnet launch of Base, an Ethereum Layer 2 (L2) network designed to offer a secure, low-cost, and developer-friendly platform for building decentralized apps (dapps) on-chain. Our goal with Base is to make on-chain the next online and onboard one billion users into the cryptoeconomy. Base will serve as both a home for Coinbase’s on-chain products and an open ecosystem where anyone can build.
Introduction to Base
What is Base?
Base is an Ethereum Layer 2 network that aims to provide a secure and low-cost environment for developers to create decentralized applications. Built on Optimism’s OP Stack, Base seeks to create a standard, modular, rollup agnostic Superchain powered by Optimism. Unlike other networks, Base will not issue a new network token.
Getting Started with Base
Developers can start building on Base today by visiting base.org. Detailed information about Base and its capabilities can be found in the Coinbase announcement and Base Developer Docs.
Why Are We Building Base?
Coinbase’s Mission
From its inception, Coinbase’s mission has been to create an open financial system that increases economic freedom globally. Over the past decade, we have advanced through several stages, including the development of protocols (Bitcoin, Ethereum), building the Coinbase Exchange, and creating a mass market interface for decentralized apps. The next phase involves creating a robust environment for the development and deployment of dapps.
Addressing Internal Challenges
Before expanding this capability to our customers, we needed to address internal challenges. Our products were not originally written as smart contracts and leveraged traditional application infrastructure. Through the development of products like USDC, Coinbase Wallet, and cbETH, we recognized the potential of on-chain environments and aimed to expand this capability internally.
Key Questions and Decisions
We identified two critical questions that needed answers:
- How should dapps be built?
- Where should dapps be deployed?
After extensive discussions with internal teams and external builders, we made three primary decisions:
- EVM as the primary developer platform for dapps.
- Ethereum Layer 1 (L1) for high-value dapps.
- Ethereum Layer 2 (L2) for scalable dapps.
These decisions helped streamline the development process and clarified future opportunities for impact.
Building Base for the Cryptoeconomy
Core Principles
The development of Base is guided by four key principles:
- A Bridge, Not an Island: Base is designed to optimize for easy, secure access to Ethereum L1, other L2s, and other L1 ecosystems like Bitcoin, Solana, and Cosmos. It aims to be a bridge into the cryptoeconomy.
- Open Source: Base is built on the MIT-licensed OP Stack in collaboration with Optimism, ensuring it remains a public good available to everyone.
- Decentralized: We are committed to progressively decentralizing Base, progressing from a Stage 0 to Stage 1 rollup in 2023 and a Stage 2 rollup in 2024.
- For Everyone: Base aims to be an open ecosystem, supported by Coinbase products, users, and assets, and open to contributions from the broader community.
Builders on Base
Community and Support
This is the beginning of our journey with Base, and we are excited about the incredible community already building alongside us. Developers and builders can join our Discord to discuss ideas, provide feedback, and ask questions.
Testnet and Mainnet Roadmap
Our immediate focus is running a successful testnet with participating builders and developers. We will share our roadmap to mainnet and additional developer resources in the coming weeks.
Base Ecosystem Initiatives
Base, Introduced Commemorative NFT
To celebrate the testnet launch, we are offering a free, open edition mint of “Base, Introduced,” a commemorative NFT. This NFT is freely mintable on Zora through Sunday at midnight EST.
Base Ecosystem Fund
We are also announcing the Base Ecosystem Fund, which supports early-stage projects building on Base. Interested projects can apply for funding by filling out the form available on our website.
Getting Started
- Website: Base.org
- Developer Documentation: Base Developer Docs
- Join the Community: Base Discord
- Follow Us: Base Twitter
Conclusion
Base represents a significant step forward in our mission to accelerate the cryptoeconomy and onboard one billion users into the global cryptoeconomy. We are excited to see the innovative applications and solutions that developers will build on Base, and we look forward to working together to make this vision a reality.
Table: Key Features of Base
| Feature | Description |
|---|---|
| Network Type | Ethereum Layer 2 (L2) |
| Built On | Optimism’s OP Stack |
| Token Issuance | No new network token |
| Developer Platform | EVM (Ethereum Virtual Machine) |
| Primary Use Cases | High-value dapps on Ethereum L1, scalable dapps on Ethereum L2 |
| Core Principles | Bridge, Open Source, Decentralized, For Everyone |
| Community Initiatives | Commemorative NFT, Base Ecosystem Fund |
| Getting Started | Base.org, Base Developer Docs, Base Discord, Base Twitter |
| Decentralization Roadmap | Stage 0 to Stage 1 rollup in 2023, Stage 2 rollup in 2024 |
Join us in building the future of the cryptoeconomy with Base!
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