Base is a Layer 2 blockchain which inherits the robust security of Ethereum while allowing developers to build gas-free decentralised applications.
As its name suggests, it will provide a gateway to the entire world of DeFi: the creators claim Base will be inter-operable with other chains and rollups beyond Ethereum, and ultimately create a “standard, modular, rollup-agnostic superchain.”
By bridging from rhino.fi, you can be on Base as soon as it opens. So you can take your time to explore the chain while the opportunities are still fresh, and help pioneer an ecosystem which promises to make DeFi faster, cheaper, and genuinely scalable.
What is Base?
A product of the Coinbase exchange, Base describes itself as “secure, low-cost and developer-friendly.”
As well as providing a home for Coinbase products, Base will provide an ecosystem where anyone can build. The aim is to create a melting-pot of decentralised creativity, where developers can build gas-less versions of the dApps you already love and introduce fresh ones specifically tailored to the ecosystem.
The chain is fully equivalent with the Ethereum Virtual Machine (EVM), a virtual computer which enables developers to write Ethereum-compatible applications and create smart contracts. The EVM has been used to create several blockchains including Ethereum, Polygon, Avalanche, Fantom and BSC.
For technical information on Base, click here.
Why we’re bridging to Base
Although it’s incubated by Coinbase, Base isn’t a centralised project itself. The team plans to introduce progressive decentralisation over time so it aligns ever-more closely with our values.
What’s more, we wholeheartedly support the mission of Layer 2 blockchains to reduce the load on Ethereum and facilitate faster, cheaper transactions. By taking transactions off Layer 1, and processing them in bulk using super-fast validation techniques, projects like Base strive to solve the adoption challenges posed by soaring gas fees and allow demand to flow freely to the point of greatest opportunity, without being constrained by slow network speeds.
We’ve already built bridges to zkSync Era and Polygon zkEVM, which share the core mission of Base: to provide all the possibilities of Ethereum in an off-chain environment and combine the security of Layer 1 with the freedom of Layer 2.
What happens next
We’ve already launched contracts on the Base testnet and we’re putting the finishing touches to our bridge, so it’s ready as soon as the blockchain launches.