# This is the base.

By [gromykoss.eth](https://paragraph.com/@gromykoss.eth) · 2024-02-25

base

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     Why did the crypto exchange Coinbase launch its own blockchain?
    Users transferred more than $160 million in cryptocurrency to the new Base blockchain from the Coinbase crypto exchange
    We tell you what you need to know about the new Base blockchain from the second largest cryptocurrency exchange, how the developers see it, and whether it is possible for its own token to appear. On August 9, the second largest crypto exchange Coinbase launched its own platform for cryptocurrency application developers. The company is a framework of trading activities alone, aimed at increasing income from ecosystem projects.
    
    The platform, called Base, is a so-called second-layer (L2) analogue on which you can develop financial and trading applications, trade on decentralized exchanges (DEX), deploy credit services or issue tokens (including NFTs).
    If developers create in-demand applications on Base, Coinbase will receive a commission on every transaction for any interaction with the network. However, in a commentary to The Wall Street Journal, Coinbase CFO Alecia Haas said it will likely be years before the company starts seeing any meaningful revenue from Base.
    The launch of Coinbase’s own blockchain took place after the exchange reported quarterly losses for the sixth time in a row. The company saw a noticeable decline in trading volumes and lost 20% of its active users last quarter.
    Historically, Coinbase's profit has always depended on trading commissions on the exchange, but in the second quarter of this year, for the first time, its non-trading income exceeded trading, which may indicate, if not a change, then an expansion of its business model.

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*Originally published on [gromykoss.eth](https://paragraph.com/@gromykoss.eth/this-is-the-base)*