We will collaborate with OP Labs and the Optimism Collective to:Īccelerate activity in the Superchain: Base is the second L2 after Optimism Mainnet deployed on the OP Stack and intends to be part of the Superchain. We are joining as the second core development team to accelerate the development and decentralization of the Superchain and the OP Stack. To bring this vision to life, we’ll be working with the Optimism Collective (the DAO that today governs Optimism) to design and build a protocol that can sequence many L2s, and provide interoperability and composability between them via the OP Stack.
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Through this work, we came to a common vision with OP Labs of how to scale Ethereum for the benefit of web3 developers, users, and the broader cryptoeconomy. We’ve worked with the Ethereum core development community over the last nine months to accelerate EIP4844 from “sometime in 2024” to the next Ethereum hard fork, with a target of summer 2023. When EIP4844 was introduced in 2022, Coinbase and OP Labs both recognized it as the missing piece required for Ethereum to enable L2s that would achieve the 10-100x cost savings, and make the cryptoeconomy more affordable for mainstream users. Through that work, we developed a shared vision for scaling Ethereum. We began working with OP Labs, the first core dev of the OP Stack, on Ethereum Improvement Proposal (EIP) 4844. We believe this decentralized effort will create the foundation for a much more vibrant developer ecosystem than what would be possible by a single chain alone. They will gradually increase their interoperability until they form a “mesh” or “Superchain” that jointly scales Ethereum. We expect that there will be many rollups with significant activity, serving as “hubs” for different ecosystems. Our vision is to create a robust developer ecosystem of interoperable L2s and rollups that will help onboard the next billion users into web3. That’s why we are working with OP Labs and the Optimism Collective on a plan to scale Ethereum in a decentralized way. Decentralization and collaboration are critical for the longer-term success of Base and scaling Ethereum. However, we know that growing the cryptoeconomy cannot be accomplished by any single entity or company. We want Base to be a seamless gateway for Coinbase users to access the broader cryptoeconomy, ultimately making web3 more accessible to a greater number of people. Base will serve as the home for Coinbase’s onchain products, and an open ecosystem for anyone building Ethereum scaling solutions and dapps. We see Base as the next step towards our mission of increasing economic freedom in the world. It is built on the OP Stack so that it can remain decentralized, permissionless, and open to anyone. Base is designed to deliver the security and scalability of Ethereum at a fraction of the cost. We’re launching Base, an Ethereum Layer 2 (L2) network offering a secure, low-cost, developer-friendly way to build decentralized apps or “dapps” onchain. Launching Base to advance the cryptoeconomy Keep reading for a commemorative NFT mint. We’re excited to collaborate with OP Labs and the Optimism Collective to build on our shared vision for scaling Ethereum via a robust, interoperable web3 ecosystem that can onboard the next billion users into web3. That’s why we will be deploying Base as the second L2 on the open-source OP Stack, following Optimism Mainnet, and joining as the second core developer of the OP Stack to accelerate that decentralized future. Tl DR We believe that decentralization is critical to an open cryptoeconomy.
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