Coinbase to Launch Blockchain Network as Part of DeFi, NFT Expansion
- Ethereum-based chain to be focused on decentralized apps
- Coinbase doesn’t plan to issue a ‘native token’ for blockchain
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Coinbase Global Inc. is launching a blockchain, expanding the largest US cryptocurrency exchange’s reach deeper into the worlds of decentralized finance and nonfungible tokens.
Base, as the Ethereum-powered network will be known, is being promoted as a developer-friendly venue for building decentralized applications and is expected to serve as a home for Coinbase’s on-chain products. A testnet of the blockchain, where developers can check for software bugs before the formal launch, is slated to go online Thursday.