⚡Breaking Down Base: Coinbase's Blockchain Powerhouse
A deep dive on the Base blockchain
What It Takes to Onboard 1 Billion Users
In 2016, Brian Armstrong, Founder of Coinbase, laid out his “Secret Master Plan.”
The plan compared the development of the Internet and Digital Currency, breaking them down into 4 phases in growth:
Phase 1 - Protocols. Open-source protocols like Bitcoin and Ethereum allow for storing, transacting, and programming value on-chain.
Phase 2 - Infrastructure. Exchanges make it easy to buy and sell digital currency.
Phase 3 - Wallets. Easy-to-use wallets make it seamless for users to interact with applications built on-chain.
Phase 4 - Apps. A marketplace of apps allows payment and finance applications to be easily built on-chain and accessed by users.
To showcase the long-term vision in this plan, when it was written 8 years ago, Coinbase was in phase 2, as an exchange for digital assets.
The release of the Coinbase Wallet moved Coinbase into phase 3. Now, the release and growth of Base Chain is moving Coinbase into phase 4: the final phase, which sees 1 Billion+ users onboarded to digital assets.
As an Ethereum Layer 2, Base features low transaction fees and fast speeds.
As a Coinbase initiative, it will feature easy onboarding and access through Coinbase, one of the largest exchanges in the world, and the Coinbase Wallet.
These two factors have the potential to make it a powerful platform for new crypto-based applications to launch on. Already, the soil provided by Coinbase is beginning to see plants sprout and grow:
SocialFi applications are onboarding new users to crypto.
DeFi applications are offering new opportunities for yield and airdrops.
Games are combining fun and finance.
In This Article…
This piece encapsulates all things Base Chain.
In it, you’ll find:
Base Chain metrics - growth, transactions, activity, and more
How Base is paving the way for SocialFi applications
15+ Base ecosystem protocols and a breakdown of why they’re important
Multiple protocols with potential or confirmed airdrop opportunities
Will Base have a token?
Base DeFi strategies
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