• Coinbase is getting ready to release its new Base protocol in late 2023.
• The program has been in a testing phase since February of this year and will be available to all the exchange’s customers.
• Coinbase is looking to bring at least one million builders on board, which will lead to about one billion more users.
Coinbase Set To Launch New Base Protocol
Leading digital currency exchange Coinbase is preparing for the mainnet launch of its new Ethereum-focused, layer-2 blockchain protocol – Base – later this year. Since February of this year, the program has been in a testing phase and those in charge are now gearing up for it to be used by all customers of the exchange.
Base Aims To Bring One Billion Users Onboard
Jesse Pollack – lead for Base – recently revealed several facts about the upcoming protocol during an interview. He confirmed that 2023 will be the year when it becomes fully available but no official timelines or dates have been released just yet. He also mentioned that their goal was to bring at least one million builders on board, leading to around one billion users alongside providing access to “easy to use” crypto-centered products.
SEC Notice Causes Fears For Coinbase
Coinbase recently experienced some blows from the Securities and Exchange Commission (SEC) who sent a Wells notice claiming potential charges may soon follow if they do not comply with present rules and regulations. The company responded by saying they had met with SEC officials multiple times over recent years ensuring compliance but due to increased speculation, Coinbase is considering relocating outside US borders and setting up shop in Bermuda instead while still providing services for US customers.
Coinbase Prioritizing Decentralization Goals Alongside Base Protocol
Pollack concluded his statement by reassuring that decentralization goals remain as number one priority alongside making sure they get Base released as quickly as possible this year. It remains uncertain when exactly we can expect the new protocol but with Coinbase’s ongoing efforts towards bringing cryptocurrency products into mainstream adoption, it’s likely only a matter of time until we see them make progress once again through their latest move with Base.
Final Thoughts
Bitcoin remains amongst many traders and fans favorite digital currencies while cryptocurrency continues its journey towards mainstream adoption through projects such as these made by industry giants like Coinbase striving for user convenience and acceptance from regulatory bodies alike across different countries worldwide