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Crypto Exchange Coinbase Launches Ethereum L2 Scaling Network Called Base

The cryptocurrency exchange Coinbase has announced the deployment of Base, an Ethereum layer two (L2) scaling network, after developers launched the Base testnet on Thursday. The company said it is incubating Base within Coinbase and that the L2 chain will progressively decentralize over time. On Twitter, Coinbase stated, “Base is an Ethereum L2 that offers a secure, low-cost, developer-friendly way for anyone, anywhere, to build decentralized apps. Our goal with Base is to make on-chain the next online and onboard 1B+ users into the crypto economy.” (Bitcoin.com)

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