Base

On August 9, Coinbase, the second-largest cryptocurrency exchange, launched its own platform for cryptocurrency application developers. The company is expanding beyond its core trading operations, aiming to increase revenue through ecosystem projects.

Named Base, the platform represents a so-called second-layer blockchain (L2), designed for developing financial and trading applications, trading on decentralized exchanges (DEX), deploying credit services, and issuing tokens (including NFTs).

If developers create popular applications on Base, Coinbase will earn a commission on each transaction involving the network. However, Coinbase's CFO, Alesia Haas, noted to The Wall Street Journal that it may take years before Base generates significant revenue for the company.