Coinbase introduces Base, a developer Ethereum Layer 2 Blockchain

Coinbase introduces Base a developer Ethereum Layer 2 Blockchain

Coinbase Global Inc. has expanded its Blockchain developer tools with Base, an Ethereum Layer 2 network that offers builders a secure, low-cost, and developer-friendly way to build and deploy decentralized applications.

A layer 2 Blockchain is a separate chain that works alongside another, in Base’s case it works with Ethereum to process transactions faster, reduce fees and add features. Layer 2 Blockchain are often used to increase the scalability of other Blockchain that can slow down or become overwhelmed by the large number of transactions caused by the growing number of decentralized applications or dapps.

The new Blockchain is fully compatible with Ethereum virtual machine standards, runs at 10% of the cost, and provides developers with access to APIs for rapid application development.

Read more: Coinbase introduces Base, a developer-friendly Ethereum Layer 2 blockchain