Coinbase, the cryptocurrency exchange platform, has recently extended a request for builders to work on some critical areas to expand its ecosystem, such as flatcoins, safer DeFi, on-chain reputation, and on-chain Limit Order Book (LOB) exchanges. Through its Base Ecosystem Fund, the platform aims to provide support and capital to early-stage projects building on its rails. This effort is a step further towards achieving the full potential of cryptocurrency and blockchain technology.

The platform realized the high potential of decentralized stablecoins, also known as flatcoins, and its importance to blockchain systems. Flatcoins are stablecoins whose values are pegged to inflation rate, providing a reliable purchasing power to consumers. In addition, on-chain reputation systems offer a decentralized reputation and identity verification, a key component of data maintenance on the blockchain. On-chain Limit Order Books (LOB) are also vital components, allowing traders and organizations to make the most of spot trading and limit orders.

The response the eco-fund has gathered was positive, with teams offering several proposals within the past three weeks. Despite the support and enthusiasm, Coinbase’s efforts have seen criticism from other communities. Notable is Anatoly Yakovenko, the co-founder of Solana Labs, who critiqued the exaggerated claims of scalability of layer-2 blockchain, as well as with zero-knowledge Ethereum Virtual Machines (zkEVMs).

Overall, Coinbase’s layer-2 platform, Base, has made another effort to keep pushing the potential of cryptocurrency and blockchain technology. The eco-fund provides important resources to early-stage projects, allowing them to continue developing and innovating in their respective fields of technology. And, by focusing on critical aspects such as flatcoins, safer DeFi, on-chain reputation, and on-chain Limit Order Books, Coinbase is sure to reach the full potential of the ever-evolving revolutionary technology.



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