Base is an Ethereum Layer 2 (L2) solution developed to help more people use the decentralized web (Web 3.0). It's being developed by Coinbase, a well-known cryptocurrency platform. The plan is to make Base more decentralized over time.
Base
Infrastructure
DeFi
Description
Here's how it works:
- Security and Scalability: Base uses Ethereum's technology, making it secure and scalable for decentralized apps.
- Low Fees: It's cheaper to use than Ethereum's main layer (Layer 1), making transactions more affordable.
- Developer-Friendly: Base offers tools like Account Abstraction (ERC4337), which makes it easier for developers to build apps.
- Gasless Transactions and Smart Contract Wallets: Developers can create user-friendly apps with these features.
- Open Source: Anyone can help improve Base, as it's open to contributions.
- Support from Coinbase: Base is integrated with Coinbase's services, which means easy access to fiat money, a large user base, and various assets.
- Plans for Decentralization: Base aims to become a public resource that's open and accessible to all.
In summary, Base is designed to be a secure, low-cost, and easy-to-use Ethereum Layer 2 solution. It's backed by Coinbase and is set to evolve into a decentralized platform.
Team of the Project
Team
Undisclosed
The team details haven’t been publicly announced, hence we don’t know particular team members behind the Base project. The thing that is known is that the Base team is working together with the Optimism team, that is OP Labs and OP Collective.
Funding
$574,000,000
$574,000,000
Total Funds Raised
The above amount was raised for Coinbase through a total of 18 funding rounds.