Crypto exchange Coinbase has denied rumours it will issue a network token for its Base Layer 2 blockchain, according to a recent roadmap. Coinbase launched its testnet for Base in February 2023. The roadmap, published on Wednesday on the Coinbase website, said Base had no plans to issue a network token and instead will operate like other Ethereum Layer 2 blockchains by using ether as a way to pay for transactions and gas fees. The road to market for Base remains highly competitive, with other Layer 2 blockchains such as Optimism, Polygon and Arbitrum already live on the mainnet.
This article originally appeared on www.newsbtc.com
Coinbase, one of the largest cryptocurrency exchanges in the world, has been making significant advancements in its technology in recent years. One of the most notable upgrades has been the development of its Base Layer 2 (L2) technology, which promises faster transaction times and lower fees for users. Many in the crypto community have been eagerly awaiting the release of a native token for Coinbase’s Base L2. However, the question remains: when exactly will this token be released?
To understand Coinbase’s plans for its upcoming Base L2 token, we need to look at their public roadmap. The roadmap outlines the various updates and releases that Coinbase has planned for its platform over the next few years. This roadmap has been updated on a regular basis, with new features and releases added as the company progresses in its development goals.
At the present time, Coinbase has not officially announced a release date for the Base L2 token. However, there are a few clues in their roadmap that suggest when we might expect to see it. For example, Coinbase has listed a number of “milestones” that need to be achieved before the Base L2 token is released. These milestones include the completion of the L2 scaling solution, the implementation of new governance and security features, and the creation of a developer-friendly ecosystem.
Based on this information, it seems likely that the Base L2 token will not be released until all of these milestones are reached. However, this could take some time, as Coinbase has not given any specific deadlines for when these milestones will be achieved. It’s possible that we could see the token released in the coming months, or it could be several years before all of the necessary features are fully implemented.
Despite the lack of a release date, there is a lot of buzz surrounding the upcoming Base L2 token. Many in the crypto community believe that it could be a gamechanger for Coinbase and the wider cryptocurrency ecosystem. With faster transaction times and lower fees, the Base L2 token could make it easier than ever before for people to use and trade cryptocurrencies.
In conclusion, while we don’t know exactly when we can expect to see Coinbase’s Base L2 token, there are plenty of signs that suggest it will be coming sooner rather than later. With the roadmap outlining the necessary milestones that need to be reached, it’s clear that Coinbase is making progress towards this goal. It’s an exciting time for the crypto world, and the release of the Base L2 token could be a major milestone in the industry’s development.