The Complete Guide To Base Chain (2023)
Enter Base- A safe and low cost Ethereum Layer 2 (L2) network designed with developers in mind. Its primary goal is to introduce the next billion users to the realm of web3. By serving as a bridge to Ethereum L1 and various L2 networks, Base empowers developers to construct decentralized apps (dapps) on the blockchain. Let’s find out what this Open Source initiative has in store for us.
Table of Contents
What Is Base?
Base is an Ethereum Layer 2 (L2) network designed to be an ideal platform for developers to build onchain applications. It offers the security, scalability, and developer tools required to power decentralized apps while keeping costs low. Base is a collaborative effort between Coinbase and Optimism, aiming to make web3 accessible to over a billion users.
Key Features of Base
Secured by Ethereum: Base utilizes the security and scalability of Ethereum, combined with Coinbase’s best practices, to ensure the safety of decentralized apps. It supports seamless onboarding from Coinbase, Ethereum L1, and other interoperable chains.
Empowered by Coinbase: Base offers easy integration with Coinbase products, users, and tools, providing developers access to over 110 million verified users and $80 billion in assets within the Coinbase ecosystem. This integration enhances user experience and accelerates adoption.
Big Features, Small Fees: Base offers full Ethereum Virtual Machine (EVM) compatibility at a fraction of the cost. It supports gasless transactions with developer APIs for account abstraction and facilitates secure building of multichain applications through user-friendly bridges.
Open Source: Base is committed to being decentralized, permissionless, and open to all visionary creators. It aims to be part of a standard, modular, rollup agnostic Superchain powered by Optimism. Base joins Optimism as a Core Dev on the open source OP Stack and is fostering a thriving developer community.
What is a Layer 2 Network?
A Layer 2 network operates on top of an underlying blockchain protocol (Layer 1) like Ethereum. It processes transactions off the mainnet, offering improved scalability, faster transaction speeds, reduced gas fees, and maintains consistent security measures and decentralization.
How To Access And User Base? (For Devs)
To build on the Base testnet, refer to the developer documentation at docs.base.org. For the Coinbase Wallet App, select Base Görli from the ETH Testnets section under Active dapp network.
How Is Base Connected To Coinbase?
Base acts as a bridge between Coinbase’s products, users, and assets and the decentralized cryptoeconomy. The network is built on Ethereum in collaboration with Optimism, leveraging Coinbase’s expertise. The plan is to gradually decentralize Base over time.
Is There Going To Be A Base Airdrop?
Base has openly written that there are no native tokens planned for Base, signalling that there is likely no airdrop for early Base users. However, there is no definite answer as to whether they might change their mind.
Is Base Currently Open To Public?
Coinbase’s Base mainnet is now officially accessible to the general public, showcasing a diverse array of more than 100 dapps and service providers within the Base ecosystem.
The Base network, supported by Coinbase, has reached a significant milestone by opening its doors to the public. The journey of the Base network commenced with a testnet launch in February, followed by a release tailored for developers in July. To celebrate this momentous occasion, an event titled “Onchain Summer” has been inaugurated.
Users are invited to explore these dapps, enjoying the advantages of reduced transaction fees and faster transaction speeds in comparison to Ethereum. Jesse Pollak, Coinbase’s lead for protocols, emphasized that these improvements enhance the overall user experience.
How Can I Bridge ETH to Base Chain?
The official Base Bridge allows you to bridge ETH from Ethereum to Base and vice versa.
To bridge to or from Base:
1) Visit Base Bridge
2) Click “Connect wallet”
3)Â Connect your wallet
4) Choose ETH amount (or the asset of your choice that’s available) you’d like to deposit or withdraw
That’s it!
How To Add Base Chain Network To Metamask?
If you are using Metamask, here’s how you can add Base Chain network to your wallet:
To add Base as a custom network to MetaMask:
1) Open the MetaMask browser extension.
2) Open the network selection dropdown menu by clicking the dropdown button at the top of the extension.
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3) Click Add a network manually.
4) In the Add a network manually dialog that appears, enter the following information for the Base Mainnet:
| Name | Value |
|---|---|
| Network Name | Base Mainnet |
| Description | The public mainnet for Base. |
| RPC Endpoint | https://mainnet.base.org |
| Chain ID | 8453 |
| Currency Symbol | ETH |
| Block Explorer | https://basescan.org |
5) Tap the Save button to save Base as a network.
You should now be able to connect to the Base by selecting it from the network selection dropdown menu.
Summary
Base is positioned to be a groundbreaking Ethereum L2 network, designed for easy, cost-effective, and secure building of dapps. Its integration with Coinbase’s products and dedication to open source principles make it a promising platform for the future of web3. As Base progresses towards mainnet launch and further decentralization, it opens new possibilities for developers and users in the cryptoeconomy.
Official Links:
For more information, visit Base.org.
Bridge ETH to Base:Â Base Bridge