Coinbase, the largest US crypto exchange, has become the first publicly traded company to launch its own distributed network. Marking an important milestone accordingly, Base officially introduced the blockchain. This strategic move has the potential to create new revenue streams through blockchain operation and application development.
Coinbase’s Base Blockchain goes live
There is a groundbreaking development. The leading US public crypto exchange Coinbase (COIN) has launched the pioneering Base blockchain. While Base was previously available for developer testing, Coinbase has now made it public. It also laid the groundwork for public companies to enter the field of self-driving distributed networks.
The launch of the Base blockchain marks a strategic shift for Coinbase, which is known for its closely watched crypto stocks. This move opens the door to earning fees by actively managing the blockchain infrastructure. Beyond that, Coinbase is promoting apps built on top of the blockchain. It also envisions opening an even more lucrative path and creating a different income stream.
Brian Armstrong’s vision and practice
Coinbase CEO Brian Armstrong’s foresight was outlined in a “secret master plan” that was outlined in 2016. This plan is part of the fourth phase of the company’s evolution. Accordingly, he envisioned it to revolve around “decentralized applications” (dapps) that have the potential to affect one billion users. Notably, Coinbase successfully completed a direct listing on the Nasdaq in April 2021.
Jesse Pollak, Coinbase’s Head of Protocols, which oversees Base, explained that the new network already hosts or is preparing more than 100 dapps. Pollak emphasized that historically, the use of crypto has been limited primarily to speculation. However, the integration of crypto into everyday life requires a shift from speculation to practical integration.
“Onchain Summer” Promotion
In conjunction with the launch of the Base blockchain, Coinbase has announced its “Onchain Summer” campaign. Collaborating with corporate partners, including industry giant Coca-Cola, this initiative aims to showcase the capabilities and potential of the new project. When we look at Kriptokoin.com, it is an important move that Coinbase makes the Base blockchain available. It sets a pioneering example for public companies to enter self-functioning distributed networks.
This strategic move not only strengthens Coinbase’s revenue streams. It also marks an important step towards realizing the transformative potential of decentralized applications in everyday life. With Coinbase taking the lead, the adoption of blockchain technology in various industries is set to accelerate.
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