Now Base mainnet is available for the public as well as developers to use.
The Base is a new Proof-of-stake (PoS) consensus-based blockchain network, backed by the American crypto exchange Coinbase. In July of this year, Base Mainnet was officially released for the developers.
On 9 Aug 2023, the Base team announced the public release of the Base mainnet and invited people to join the journey. In this initial release, there are more than 100 decentralized apps(Dapps).
Last two weeks ago, we reported that new meme crypto tokens were grabbing huge attention in the crypto sector. These tokens were Bald token, Base Token, and Coin token.
In the present time Base blockchain network is not highly decentralized, as there are not huge numbers of network supportor (stakers) but slowly this network will grab significant decentralized nature.
The Base project devs didn’t launch any native token of the Base network and also they aimed to provide layer-2 scaling solutions to all the top flagship crypto networks, which are struggling at low transaction fees.
Coinbase & Legal hurdles
No doubt that Coinbase is the top American crypto exchange and also the majority of the crypto investors prefer to go with Coinbase crypto services, but this exchange failed to maintain a better relationship with the American regulatory body SEC.
The United States Securities Exchange Commission (SEC) sued Coinbase over violating the Securities Act and running an illegal national stock exchange, on 6 June 2023.
In the present time, the Coinbase lawyers are providing evidence & facts in court to prove that Coinbase always followed rules – regulations to comply with the country’s all financial rules but it was the SEC body that intentionally created a situation for Coinbase to voilate the rules.