What is Coinbase base & how does it work?

Coinbase's 100 million verified users will be able to access the crypto ecosystem via Base’s intuitive interface. The launch adds a significant development in Coinbase's business model — from a centralized crypto exchange to a web3 gateway. What Is Base? Base is a layer-two chain developed by Coinbase.

Is Coinbase going on-chain?

Coinbase, the biggest crypto centralized exchange (CEX) in North America, is going on-chain. The exchange recently announced the launch of "Base," an Optimism -based new Ethereum layer-two (L2) chain. Coinbase's 100 million verified users will be able to access the crypto ecosystem via Base’s intuitive interface.

What is Coinbase & optimism's new mainnet?

Developed by Coinbase in collaboration with Optimism, Base has recently launched its mainnet with $160 million in TVL. Decentralized applications building on Base will be able to access Coinbase’s existing suite of products and tools and its user base of approximately 110 million verified users, holding over $80 billion worth of assets.

Is Coinbase introducing decentralized finance (Defi) to 'one billion users?

Coinbase is a leader in the crypto industry. The Brian Armstrong-led crypto exchange was instrumental in introducing Bitcoin to millions of new users. Now with the introduction of Base, Coinbase wants to take it further by introducing decentralized finance (DeFi) to “one billion users.”