Yesterday Coinbase tweeted a 6 second video with just a blue ball and the date 02.23.23 which got 1.7 Million views.
Today they revealed what this is all about. Coinbase is launching BASE and their twitter already has 35K followers.
https://twitter.com/BuildOnBase
Moving the Masses to Decentralized Apps
Base is an Ethereum L2 that offers a secure, low-cost, developer-friendly way for anyone, anywhere, to build decentralized apps.
Our goal with Base is to make onchain the next online and onboard 1B+ users into the cryptoeconomy.
Coinbase has 108 Million Verified (KYC) accounts. When you put money into such an account, the centralized exchange owns your coins. Not your keys, not your coins. But most people prefer to keep their coins in centralized exchanges! Apparently only a few million people hold crypto off of centralized exchanges. Coinbase's plan for Base is to bring their Millions of customers on-chain through Base so they can hold their own coins and keys, and have access to all the web3 things like defi, NFTs and social networks.
Since we're the best social network on web3, it is important for us to know this news and perhaps integrate so that some of this new wave of decentralized users find their way here! We do have a way to trade Ethereum for Hive at https://hive-engine.com/trade/SWAP.ETH and since Base is a level 2 for Ethereum this might be an easier way for people to find their way here in the future.
Base will NOT have a token! It is built on OP, the Optimism Protocol. You can see their website at https://www.optimism.io/ and read more about their Superchain plans at https://app.optimism.io/superchain which has this quote:
We chose to build Base on the OP Stack because of Optimism’s alignment with Ethereum’s values of decentralization and unification of all rollup architectures. - Jesse Pollak, Contributor #1, Base
Coinbase Announces Base🔵, an Ethereum L2 Network Powered by Optimism
For a deep dive on Base and Optimism, check out this video from YouTube crypto influencer channel Bankless Shows.
Base, Introduced - NFT
Mint “Base, Introduced” — a commemorative NFT that celebrates the initial launch of Base. 1 per address, freely mintable on @OurZora
through Sunday at midnight EST.
With Gas Fees, its about $10 to get one of these. Over 40K have been minted and I got one.
My NFT on https://money.moralis.io/ which you might want to be on, even if just to collect daily Beans!
Have a great day! 😀 👍
When you put money into such an account, the centralized exchange owns your coins. Not your keys, not your coins. But most people prefer to keep their coins in centralized exchanges! Apparently only a few million people hold crypto off of centralized exchanges. -- When you buy cryptocurrency on an exchange, the exchange holds your private keys on your behalf. This means that technically, the cryptocurrency belongs to the exchange, and you are simply holding an IOU for that cryptocurrency.
Yes!
And interestingly, its the same when you put money in the bank. That money now belongs to the bank and you get an IOU.
With decentralized crypto in our own wallets, we're the owner and we're in complete control. No one else is there in the middle, for better or for worse. No one can confiscate our crypto and no one can help us get it back if someone gets our keys and moves the crypto from our wallet. With freedom comes responsibility!
Yes sir ! With freedom indeed comes great responsibility!! Wise words ..
That's really a great news
It's a huge news, If everything goes well, Coin base popularity will increase more. Base will be going to make people bank less.
What are those beans for? Is it tokens or similar to candies?
I'm really not sure what they are for. I think Ivan said today that its on their Roadmap to give them some functionality. So they are more like candies or diamonds on coinmarketcap.
I see. I do collect diamonds on Coinmarketcap and candies on Coingecko
Good to know about coinbase next chain
😉😊🌈 so cool!
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