New Coinbase-Incubated Layer-2 Network Opens Up Mainnet for Builders

An Ethereum (ETH) layer-2 chain incubated by Coinbase has just opened up its mainnet for builders ahead of a general launch in early August.

The project, known as Base, notes in a press release that this new phase will enable builders to deploy their products on the chain and receive hands-on support from the development team in preparation for the official roll-out.

Base is powered by the blockchain-scaling solution Optimism (OP), and its testnet launched in February.

The project is designed to be compatible with Ethereum, Ethereum layer-2s and alternative layer-1 blockchains.

Base completed internal and external security audits earlier this month. The project says the audits didn’t reveal any critical severity bugs, which gives the team behind the project “confidence to proceed towards mainnet launch.”

Base is asking builders to hold off on publicizing their integrations until the chain’s official launch next month.

The project is also issuing a non-fungible token (NFT) called the “Genesis Builder NFT” to reward Base’s early developers. To earn the NFT, builders need to deploy a decentralized application (DApp) on Base and complete an on-chain application.

Coinbase previously noted that it has no plans to issue a new network token. The top US crypto exchange says Base will be decentralized and permissionless.

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