{"id":74587,"date":"2023-02-23T19:48:07","date_gmt":"2023-02-23T17:48:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74587"},"modified":"2025-09-09T20:59:58","modified_gmt":"2025-09-09T17:59:58","slug":"coinbase-launches-testnet-for-base-its-l2-on-op-stack","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/coinbase-launches-testnet-for-base-its-l2-on-op-stack\/","title":{"rendered":"Coinbase launches testnet for Base, its L2 on OP Stack"},"content":{"rendered":"<p>The largest American cryptocurrency exchange Coinbase has launched the Base testnet, a second\u2011layer solution built on Optimism&#8217;s <a href=\"https:\/\/optimism.mirror.xyz\/fLk5UGjZDiXFuvQh6R_HscMQuuY9ABYNF7PI76-qJYs\">OP Stack<\/a> architecture.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ ? We\u2019re excited to announce <a href=\"https:\/\/twitter.com\/BuildOnBase?ref_src=twsrc%5Etfw\">@BuildOnBase<\/a>.<\/p>\n<p>Base is an Ethereum L2 that offers a secure, low-cost, developer-friendly way for anyone, anywhere, to build decentralized apps. <\/p>\n<p>Our goal with Base is to make onchain the next online and onboard 1B+ users into the cryptoeconomy. <a href=\"https:\/\/t.co\/RmwZFJzGGs\">pic.twitter.com\/RmwZFJzGGs<\/a><\/p>\n<p>\u2014 Coinbase (@coinbase) <a href=\"https:\/\/twitter.com\/coinbase\/status\/1628760201254903809?ref_src=twsrc%5Etfw\">February 23, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cBase is an <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-layer%e2%80%912-solution-in-blockchain\">L2<\/a> on Ethereum. It offers a secure, low-cost and developer-friendly way to build decentralized applications,\u201d said company representatives.<\/p>\n<\/blockquote>\n<p>They stressed that the new solution does not involve issuing a token \u2014 ETH is used to pay transaction fees.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">2\/ Important: Base is *not* a token<\/p>\n<p>We do not plan to issue a new network token for Base and will use ETH as the native gas token.<\/p>\n<p>\u2014 Coinbase (@coinbase) <a href=\"https:\/\/twitter.com\/coinbase\/status\/1628760205692485633?ref_src=twsrc%5Etfw\">February 23, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Base will interact with the company\u2019s core products, including Coinbase Wallet.<\/p>\n<p>The American exchange will also join Optimism as a core developer of the OP Stack. A portion of transaction fees in the Base network will go to the Optimism Collective treasury.<\/p>\n<p>In addition, Coinbase and its venture arm will launch the Base Ecosystem Fund. It will invest in early-stage projects using the new L2 solution.<\/p>\n<p>The news positively affected the price of OP \u2014 over the last 24 hours, the Optimism project\u2019s utility token rose 17%, to $2.91 (according to <a href=\"https:\/\/www.coingecko.com\/en\/all-cryptocurrencies\">CoinGecko<\/a>).<\/p>\n<p>For the fourth quarter, <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-reports-557-million-loss-in-q4\">Coinbase posted a loss of $557 million<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase launches the Base testnet, a second-layer solution built on Optimism&#8217;s OP Stack architecture.<\/p>\n","protected":false},"author":1,"featured_media":74588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[138,1179,1362,277],"class_list":["post-74587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinbase","tag-layer-2-solutions","tag-optimism-op","tag-scaling"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=74587"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74587\/revisions"}],"predecessor-version":[{"id":74589,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74587\/revisions\/74589"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/74588"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=74587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=74587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=74587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}