BASE BLOCKCHAIN ANALYSIS (2024)

Base is an Ethereum Layer 2 (L2) scaling solution developed by Coinbase. It is built on the Optimism stack, which uses optimistic rollups to achieve faster and cheaper transactions while inheriting the security of the Ethereum mainnet. Base blockchain was officially launched on August 9, 2023. This launch followed an initial testnet phase that began earlier in 2023, allowing developers to build and test applications on the network before its full public release. The launch marked Coinbase's entry into the Layer 2 space, with the goal of making decentralized applications more accessible to a broader audience by offering lower transaction costs and improved scalability on the Ethereum network