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Coinbase CEO Brian Armstrong spoke on the Bankless podcast, during which he talked about the Base layer 2 blockchain, which his company recently launched. He also spoke about the future of the company and new products of the crypto exchange.
Speaking about Base, Armstrong stated that the goal of the project is the desire to contribute to the crypto space through creation, rather than simply interacting with interested crypto players.
Despite the regulatory climate and the negative headlines, we must try to continue to innovate in the industry.
Regarding the use cases for Base, the CEO of the company explained that the blockchain should make the cryptocurrency more scalable and practical. In addition, the new blockchain will also be used to reduce the cost of Ethereum transactions to the lowest possible mark.
Armstrong stressed that Base is not designed to generate revenue for the company, it is not a monetization scheme. According to the top manager, users should curb their hopes and expectations as the blockchain is currently in its early stages of development. In addition, the developers do not plan to issue their own token.
Armstrong believes that one possible use case for the new Layer 2 blockchain could be to reduce fees for USDC payments. In addition, the network can be used to seamlessly interact with DeFi games and NFTs.
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