When Is A Token Coming For Coinbase’s Base L2? Here’s What The Roadmap Says

2023-5-26 02:00

Crypto exchange Coinbase announced and launched the testnet for its very own Layer 2 blockchain called Base earlier in February 2023. Since the launch, there have been speculations about the exchange launching a token for the L2, which has now been clarified in the newly released roadmap for Base.

Base Roadmap Mentions No Token

Following the launch of Base, crypto exchange Coinbase made it known that there were no plans to actually launch a token for the Layer 2 blockchain. Nevertheless, this did not stop the speculations, but with the release of its roadmap, the team seems to have put an abrupt halt to all rumors regarding a token.

The roadmap which was published on Wednesday on the Coinbase website clearly states that “Base has no plans to issue a network token.” Instead, it will continue to operate like most other Ethereum Layer 2 blockchains, using ETH as a way to carry out transactions and pay for gas fees.

As the L2 moves closer toward a mainnet launch, the team is rather focusing on builders on the chain. It is also looking toward upgrading Optimism’s Bedrock, as well as all of the reviews and audits while making sure the testate remains stable.

“We’ve been building towards Mainnet Genesis, the first step of delivering a decentralized platform that scales Ethereum with fast, low-cost and secure transactions. As we prepare to upgrade from testnet to mainnet, we want to build in the open and keep the community informed of our roadmap and status,” the statement said.

Coinbase Will Face Fierce Competition In L2 Market

While blockchain is still not as mainstream as industry participants would like, they are being developed rapidly. As Coinbase enters the L2 space, it is coming into fierce competition with other L2s that are already live on the mainnet.

The likes of Optimism and Arbitrum have seen a reasonable level of success since their launch, which signals that Base could be just as successful. However, one thing the former have are tokens that are already trading across major exchanges. As such, they may continue to see the most interest from investors who are chasing gains from these tokens.

Nevertheless, Base is still a highly anticipated L2 expected to launch in mainnet sometime in 2023. There is no reason to doubt Coinbase’s stance in not creating a token, but this could always change as Arbitrum operated for two years before launching a token.

Arbitrum, Polygon, and Optimism remain the dominant L2s in the space with total value locked of $2.31 billion, $986.88 million, and $881.1 million respectively.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Crypto User Base (CUB) на Currencies.ru

$ 0.0450497 (-1.41%)
Объем 24H $0
Изменеия 24h: 1.36 %, 7d: 15.76 %
Cегодня L: $0.0443687 - H: $0.0450497
Капитализация $0 Rank 3660
Доступно / Всего 0 CUB / 1m CUB

base exchange roadmap coinbase token february 2023

base exchange → Результатов: 126


What Is Base? Coinbase’s L2 Network Explained

Coinbase’s Layer 2 Network: A Complete Guide Cryptocurrency exchange giant Coinbase has been making waves in the crypto industry with the launch of its Layer 2 network. This network is designed to enhance transaction speeds and reduce costs on blockchains like Bitcoin and Ethereum, making it an attractive proposition for developers and crypto enthusiasts alike.

2023-3-23 23:38


Libertex Review – Fees, Deposit, Features

Since its founding in 1997, Libertex has forged an exceptional reputation with its user base growing to more than 2.2 million clients in 110 countries.  As an online trading platform and multi-asset broker, the company has been licensed by the Cyprus Securities and Exchange Commission (CySEC), ensuring that it’s fully compliant with all regulations and […] The post Libertex Review – Fees, Deposit, Features appeared first on CaptainAltcoin.

2022-7-2 17:53


Фото:

Kryptomon’s KMON token to debut on Bybit Global Exchange on the 6th of May

The KMON token is set to be listed on Bybit by Kryptomon, the living NFT-powered play-and-earn gaming project that combines nostalgic appeal with modern blockchain technology. Bybit’s global user base will be able to buy, sell, and trade KMON, Kryptomon’s native token that enables all in-game actions, including the KMarket NFT marketplace, where players may […]

2022-5-4 17:40


Фото:

Decentralized Geospatial Network XYO Adds ProBit Exchange to its Global Base

P2P location-based data network XYO debuted on ProBit Global on May 17 to expand its wide scope of sentinel devices across Asia. The beacon-based cryptographic protocol has already established over 1M devices for accurate item tracking fueled by proof of origin and a decentralized ledger for pinpoint time and location accuracy. While oracles are commonly […]

2021-5-18 12:01


Фото:

Libertex Review [2021] – Fees, Deposit, Features

Since its founding in 1997, Libertex has forged an exceptional reputation with its user base growing to more than 2.2 million clients in 110 countries.  As an online trading platform and multi-asset broker, the company has been licensed by the Cyprus Securities and Exchange Commission (CySEC), ensuring that it’s fully compliant with all regulations and […] The post Libertex Review [2021] – Fees, Deposit, Features appeared first on CaptainAltcoin.

2021-4-26 16:02