Coinbase Launches Ethereum Layer-2 Network, Base, Without Native Token

Coinbase has launched a new Ethereum layer-2 network called Base, aiming to improve blockchain scalability and increase developer adoption without issuing its own native token. The launch, which took place on August 9th, 2023, signals Coinbase’s strategic move to democratize blockchain technology. Base leverages the ETH ecosystem for transaction fees. Avoiding a native token is central to this approach.