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Coinbase launched its new blockchain, Base, in July, and it has quickly become a major player in the Ethereum-based layer-2 chain space. In just a few months, Base has already hosted hundreds of decentralized projects, including inflation oracles, restaurant rewards platforms, insurance aggregators, and more. The success of Base is a testament to Coinbase’s vision of bringing the next million builders and billion users on-chain.

But what does this mean for the future of blockchain technology and decentralized applications (DApps)? According to Jesse Pollak, the head of protocols at Coinbase, the goal is to have a billion users embracing the power of blockchain and developing apps that can improve people’s lives. While Base will play a significant role in achieving this goal, Pollak emphasizes that it’s a collective effort involving the entire industry.

In terms of timeline, Pollak predicts that we will see a million developer jobs by 2030, with mainstream adoption of blockchain technology happening within this decade. He believes that the pace of change will be faster than expected, driven by advancements in cost reduction, user experience, and identity infrastructure on-chain.

When it comes to the speculative nature of the crypto market, Pollak doesn’t see it as a mistake. He explains that financial bubbles are almost inevitable during periods of significant technological innovation. However, he believes that we have now reached a turning point where it’s time to focus on bringing utility to everyday people.

As for why Coinbase chose to build its layer 2 on the Ethereum blockchain, Pollak explains that Ethereum is the largest crypto ecosystem by value, activity, and developer community. By building Base as an Ethereum layer 2, Coinbase can contribute to scaling Ethereum and be a part of a larger ecosystem.

Regarding Ethereum’s scalability issues, Pollak acknowledges that there is still work to be done. However, significant progress has been made in the past two years through the development and adoption of layer-2 rollups. These rollups, including Optimism, Arbitrum, and Base, have increased transaction throughput and reduced fees, making Ethereum more scalable.

In terms of exciting DApps launched on Base, Pollak highlights Blackbird, a customer engagement platform for restaurants. This DApp allows customers to have a personalized experience and earn rewards when visiting participating restaurants. It is already gaining traction in New York City and will soon expand to California.

In summary, Coinbase’s Base blockchain has quickly established itself as a major player in the Ethereum-based layer-2 chain space. The goal of Base and the broader blockchain industry is to bring a billion users on-chain and develop apps that improve people’s lives. To achieve mainstream adoption, the industry needs to focus on reducing costs, improving user experience, and enhancing identity infrastructure. While there is still work to be done, significant progress has been made, and the future of blockchain technology looks promising.

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