Coinbase announces Base, an Ethereum layer-2 network built on the OP Stack

Coinbase/Base

Coinbase announced Base, an Ethereum layer-2 network built on Optimism's open-source OP Stack, and opened its testnet. Layer 2s process transactions off Ethereum and post results back, cutting fees; Coinbase also joined Optimism as a core OP Stack developer.

• Technology: built on Optimism's open-source OP Stack.
• Launch phase: testnet opened at announcement.
• Fee reduction: L2s process off-chain, settle on Ethereum, cutting transaction costs.
• Developer role: Coinbase became core OP Stack developer alongside Optimism.