Coinbase has launched its own L2 solution based on Optimism

Base is a test version of the new Ethereum L2 network on the OP Stack codebase.

According to developers, this L2 network will offer a "safe, inexpensive, and convenient way to create decentralized applications or on-chain DApps" for everyone, everywhere.

Interestingly, the crypto exchange explicitly stated that it does not plan to release a new token for the layer-2 network. The network will use ETH as its native token, including for gas fees.

Coinbase also stated that the Base network will be compatible with other blockchains, such as Solana. Moreover, the network will be decentralized, open-source, and built on OP Stack, which is licensed by the Massachusetts Institute of Technology.

This decision has caused a more than 20% increase in the OP token over the past 48 hours, as OP Stack is also the architecture of Optimism.

Well, we will be looking for gem projects on BASE for you :) And you wait! And don't freak out there.

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