Coinbase Launches 'Base' Blockchain, Paving the Way for Public Companies to Forge Distributed Networks

CoinDesk reported that Coinbase has announced the official launch of its new "Base" blockchain, marking the commencement of a fresh era where public companies establish their own distributed networks.

Although Base was already operational for testing purposes by developers, Coinbase officials have confirmed its availability to the general public since 12 pm ET on Wednesday, and that moment has now passed.

This new strategic move by Coinbase, a highly monitored crypto stock, holds the potential to enable the company to earn fees from operating its independent blockchain. Furthermore, it could generate a potentially more lucrative revenue stream from applications developed on top of it, according to the company's executives.

In a "secret master plan" articulated by Coinbase CEO Brian Armstrong in 2016, the company's fourth phase of development was anticipated to arise from "decentralized apps," or dapps, designed to engage one billion individuals. The company executed a direct listing of its shares on Nasdaq in April 2021.

Jesse Pollak, overseeing Base as Coinbase's head of protocols, conveyed in an interview on Tuesday that around 100 dapps have already been deployed or are poised for launch on the new network.

"Historically, the scope of possibilities with crypto has been relatively confined, primarily revolving around speculation," Pollak emphasized. "For Coinbase, the crypto industry, and the efforts we are undertaking, to achieve the desired impact, we need to shift from a realm of speculation to a sphere of complete integration into people's daily lives."

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