Coinbase launches blockchain Base in collaboration with Optimism

Coinbase said that its new project, called “Base,” will be powered by Optimism, and that the company would be partnering with the DAO for open-source development on the OP stack.

Layer-2 solutions are designed to make transactions faster and cheaper than they are on their respective layer-1 blockchain, like Ethereum, where fees have been known to balloon in times of peak network demand.