Coinbase throws its hat into the Ethereum layer-2 race with the launch of

Coinbase throws its hat into the Ethereum layer-2 race with the launch of 'Base' Ethereum ETH Base

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Coinbase is looking to make “onchain” the new “online” in a bid to onboard more than a billion new users into the crypto ecosystem. Base will host all onchain products developed by Coinbase and will also serve as an open ecosystem where anyone can build, the exchange said. Unlike many of the L2 protocols currently in existence, Base will have no native token.

Base is open source, with a long-term goal of becoming completely decentralized, permissionless, and “open to anyone with the vision of creating a standard, modular, rollup agnostic Superchain powered by Optimism.” To go along with the launch of Base, Conbase has also announced the Base Ecosystem Fund, which invests in and supports early-stage products building on Base that meet the exchanges’ investment criteria.

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