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The Wallet 🎒 pfp
The Wallet 🎒
@thewallet
📝 A Comprehensive Overview of the Base Blockchain 🧵👇👇👇👇 #Ethereum holds a pivotal role in the #blockchain landscape, serving as the foundation for a vast array of #dApps and smart contracts. It has significantly contributed to the growth of #DeFi, #NFTs, and blockchain gaming, transforming them into thriving sectors. ⚠️ However, Ethereum faces certain challenges, particularly in terms of transaction speed, costs, and scalability.
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The Wallet 🎒 pfp
The Wallet 🎒
@thewallet
📍 To address these challenges, Layer-2 blockchains have emerged as crucial solutions. By offloading transactions from the main Ethereum network while still leveraging its security, these Layer-2 blockchains enhance transaction speed, reduce costs, and support high transaction volumes. One of the most promising Layer-2 solutions is @base, which is built using the OP Stack developed by Optimism. Base aims to not only resolve Ethereum’s existing issues but also to advance the network’s capabilities, positioning Ethereum as a future-ready blockchain.
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The Wallet 🎒 pfp
The Wallet 🎒
@thewallet
👉 What is Base? Base is a Layer-2 blockchain developed by @coinbase, one of the leading centralized cryptocurrency exchanges. Base prioritizes user-friendliness and, unlike many other blockchain projects, does not have its own native token. Instead, it utilizes Ethereum’s native token (ETH) for gas fees. This approach reinforces Base’s core mission and minimizes the risks of token misalignments or fraudulent schemes often associated with token offerings. Designed to be decentralized, permissionless, and accessible to all, Base leverages Optimism’s OP Stack to deliver near-zero gas fees, swift transactions, and enhanced security — all while maintaining Ethereum’s robust security features. Several major projects currently support Base, including OpenSea, Uniswap, and Galxe. Recently, Base has gained significant traction among web3 game developers, securing partnerships with several upcoming blockchain games, such as Pixelmon, Planet Mojo, and re-releases of Atari’s arcade classics.
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The Wallet 🎒 pfp
The Wallet 🎒
@thewallet
👉 How Base Works Base operates as an optimistic rollup, a technology that processes transactions off-chain in batches, significantly lowering costs and reducing network congestion. Transactions are initially handled on Base and then aggregated for finalization on the Ethereum mainnet. This method ensures that Ethereum’s security and decentralization benefits are preserved. Optimistic rollups, like Base, assume that transactions are valid by default, which reduces the need for intensive computational resources upfront, thus keeping costs low. However, the system incorporates a fraud-proof mechanism to verify suspicious transactions, ensuring the network remains secure. Funded entirely by Coinbase, Base is focused on technological advancement rather than profit generation. Its strategic partnerships and the quality of projects in its ecosystem demonstrate a commitment to fostering innovation.
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The Wallet 🎒 pfp
The Wallet 🎒
@thewallet
👉 The Evolution of Base Base’s development began in early 2023 when Coinbase announced its intention to create an Ethereum Layer-2 blockchain. Soon after, the Base testnet was launched, providing developers with a platform to create dApps for Base. The Base mainnet officially went live in August 2023. Due to its strong association with Coinbase, Base has quickly gained momentum over the past year. One of the earliest widely-used Base products was the Coinbase Learn-to-Earn program, an online platform that rewards users for learning about blockchain technology. Numerous prominent projects, marketplaces, and tools have either migrated to or begun supporting Base, drawn by its low fees, rapid transaction speeds, and substantial financial backing.
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The Wallet 🎒 pfp
The Wallet 🎒
@thewallet
In recent months, the Base team has actively sought to attract leading blockchain games to its network. In addition to Pixelmon, Planet Mojo, and Atari moving to Base, NPC Labs — a startup founded by three former Coinbase employees — has secured $21 million USD to accelerate web3 gaming development on Base. With its distinctive approach of not having a native token, Base represents a significant advancement in Layer-2 solutions, addressing the fundamental challenges of the Ethereum blockchain. Its foray into web3 gaming marks an exciting development for the industry, and with the recent resurgence in blockchain gaming, it will be intriguing to see how Base compares to competitors like Immutable, Polygon, and Ronin.
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The Wallet 🎒 pfp
The Wallet 🎒
@thewallet
👉Pulse Wallet with seamless integration of Base #PulseWallet’s support for Base is set to facilitate capital flow between the two networks and enable the community to explore #PulseChain conveniently and securely. In the near future, Pulse Wallet will also offer connections with Base dApps, further enhancing user convenience.
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