Coinbase, the well-known cryptocurrency exchange, is set to welcome the team from Station Labs to join them in developing their smart wallet Base. Station Labs, founded by Tina He and co-founded by Mind Apivessa, both former Facebook employees, will bring their expertise in building onchain developer tools to enhance Base.
Base serves as the onchain hub for Coinbase’s products, users, and assets, and also provides an open ecosystem for developers to build on. Currently, Base holds a staggering $130 billion in assets on its platform.
To ensure the security and scalability of Base, it operates on Optimism’s OP Stack. This technology, which is an open-source public good, enables interoperability, sequencing, and governance among various Layer-2 solutions.
Coinbase acknowledges that one of the challenges in promoting on-chain adoption is the complexity of onboarding for both consumers and developers. However, with the experience of Station’s founders in building tools for developers and creators, Coinbase is confident in their ability to simplify the process. This includes integrating core on-chain features such as wallets, token-based experiences, and eliminating gas fees for consumers.
Coinbase is committed to providing developers with user-friendly tools as Base and the broader Layer-2 ecosystem continue to grow. Their aim is to make on-chain experiences hassle-free, allowing consumers to enjoy phraseless, gasless transactions.
The collaboration between Coinbase and Station Labs is highly anticipated. Coinbase recognizes the expertise and talent that Station’s founders bring to the on-chain tools space, and they are excited to work together to usher in the next generation of builders on-chain.
In other news, the term “onchain” experienced a significant surge in Google search interest in May. This term, which refers to transactions that occur directly on the blockchain, reached an all-time high. Previously, global search interest for “onchain” had remained relatively low, but it saw a temporary increase in March.
Additionally, Coinbase recently made a donation of $25 million to the pro-crypto super PAC Fairshake. This contribution matches donations made by Ripple and Andreessen Horowitz, solidifying Fairshake’s position as one of the top five largest super PACs for this election cycle.
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