Subnostr

Coinbase launched an Optimitic Rollup Layer 2 testnet: Base. Here's some points I think it will gain a lot of traction for mass adaption:

1. No extra token required to use it. Never understand why this is so hard for ETH, while BTC lightning network had get it done so long ago. You have to get additional token to use a network sucks! It cripples the user experience and fraction the whole ecosystem. I suspect that's one of the major reasons why ETH's adaption is so slow.

2. It's Coinbase, a lot of liquidity will be in and out of it. I know decentralized community hates centralized entity. But they are not mutually exclusive to each other. To me decentralized tech is just one subsystem of the open source tech, which had thrived due to the deeply cooperations with the tech giants. The best example is Android and google.

3. The documentations and roadmaps look good. (While tons of defi/web3 projects look like rugpull).

https://base.mirror.xyz/H_KPwV31M7OJT-THUnU7wYjOF16Sy7aWvaEr5cgHi8I

https://base.org/

#ETH #Ethereum #Layer2 #L2 #OP #Rollup #Optimistic #adaption

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Discussion

Kis Sean 2y ago

Coinbase is also a huge pusher for EIP-4844/proto-danksharding, which adds a temporary data blob (block/storage unit) to each block , this would help rollups to scale the ETH network to a larger magnitude.

https://academy.shrimpy.io/post/what-is-eip-4844-how-proto-danksharding-reduces-gas-fees

#ETH #Ethereum #Layer2 #L2 #EIP #EIP4844 #ProtoDanksharding

Kis Sean 2y ago

https://twitter.com/doganeth_en/status/1640062610161688577

Good implementation example for more accessible UX without sacrificing security.

Just one question, why iPhone always get to try the new stuffs first.

Kis Sean 2y ago

https://cointelegraph.com/news/coinbase-wants-devs-to-build-inflation-pegged-flatcoins-on-its-new-base-network

"While most stablecoins are pegged to a reference asset such as the U.S. dollar, flatcoins aim to be pegged to the “price of living” by tracking consumer price index and inflation data."

"“The closest thing to that is an inflation index bond, but if you created a coin that says OK this is buying power that I know I can save in and put my money in over a period of time and transact in anywhere, I think that would be a good coin,” he said."

My take: I-bond and other inflation index bond is issued by the treasury, so wouldn't there be some regulation issue. And fundamentally, bonds are loans to that company, so it's better they can prove they are profitable enough to pay the interest.

https://base.mirror.xyz/lt3JR-mZ51q9eIOtGO36L3ZVzCTXmZVnbIiXz6crqzQ

Even though flatcoin functions slightly different, the issuer still need to prove that they will not be insolvent for the future token swapping. But from the website there's nothing mention about how coinbase will ensure that, they are passing the responsibility to the issuer.