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Coinbase Launches Coinbase Extend, a Layer 2 Blockchain Base Providing Onramp for Ethereum, Solana, and Others

Coinbase, the popular cryptocurrency exchange, has launched a new Layer 2 blockchain base that aims to provide an onramp for popular blockchains such as Ethereum, Solana, and others.

The new blockchain base, called Coinbase Extend, will allow users to interact with Layer 2 blockchain protocols without having to leave Coinbase’s platform. This will provide a more seamless and convenient user experience, making it easier for people to access the benefits of Layer 2 technology.

Layer 2 solutions are designed to address the scalability issues that have plagued many blockchains, including Ethereum. By building on top of existing blockchains, Layer 2 solutions can increase transaction throughput and reduce fees, while maintaining the same level of security and decentralization.

Coinbase Extend will initially support Ethereum-based Layer 2 solutions such as Optimism, Arbitrum, and zkSync, as well as Solana’s Serum DEX. The exchange plans to add support for additional Layer 2 solutions in the future.

In a blog post announcing the launch of Coinbase Extend, Coinbase noted that Layer 2 technology is still in its early stages and that it has the potential to “revolutionize the entire blockchain ecosystem.”

“By providing a seamless and intuitive way for users to access Layer 2 protocols, Coinbase Extend will help drive adoption and growth of these technologies,” the blog post stated.

The launch of Coinbase Extend comes as interest in Layer 2 solutions continues to grow within the cryptocurrency community. Many projects are now focused on building Layer 2 solutions, and there is a growing demand for platforms that can provide easy access to these protocols.

Coinbase, which recently went public in a blockbuster IPO, is one of the largest and most respected names in the cryptocurrency industry. With the launch of Coinbase Extend, the exchange is well-positioned to play a leading role in the development and adoption of Layer 2 technology.

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