Coinbase Joins the Ethereum Layer 2 Rat Race – Can It Grow?

Coinbase (COIN) has big plans for its newly announced Ethereum scaling product. The project, Base, built in collaboration with layer 2 network Optimism on Optimism’s Massachusetts Institute of Technology-licensed OP Stack, aims to reduce ETH transaction fees to 1 cent, integrate with other blockchains like Solana, Avalanche and Polygon, and serve as a springboard for the company’s “Master Plan” to bring 1 billion people into crypto by “buying, building or investing” projects in the “open financial system.