Coinbase-hosted event aims to make cryptocurrency more accessible, fun and useful

Views:365 Time:2023-08-18 06:58:38 Author: NiceNIC.NET

OnchainSummer.xyz is the online home of Onchain Summer, a multi-week event organized by leading cryptocurrency platform Coinbase to celebrate the launch of its new DeFi project, Base, a secure, low-cost, builder-friendly Ethereum Layer2 (L2). An L2 is a network that enhances speed and reduces cost for transactions on chain. Happening throughout the month of August 2023, Onchain Summer is geared towards uniting over 50 leading brands, platforms, artists, and creators in the cryptocurrency space. In addition to leading web3 platforms like OpenSea, the event boasts the participation of global brands like Coca-Cola and Atari. Onchain Summer is designed to showcase on-chain art, culture, music, gaming, and more.

The launch of Base, designed for the Ethereum blockchain
Coinbase’s ongoing efforts to build an accessible and user-friendly on-chain ecosystem result in the launch of Base mainnet. Base is a tool designed for the Ethereum blockchain. It operates as an “optimistic rollup,” which is a mechanism that bundles multiple transactions together. This method helps transactions to be represented as one, which increases efficiency on the Ethereum network. An important feature of Base is its compatibility with the Ethereum Virtual Machine (EVM). This means that developers who have projects on Ethereum, or platforms similar to it, can transition their work onto Base without major modifications.1 Beginning with the Onchain Summer launch on August 9, 2023, ETH can be transferred to Base.

A fusion of art, culture, music, and gaming
The innovative art, culture, music, and gaming projects dropping with Onchain Summer’s platform are all built on Coinbase’s Base platform. The virtual activation provides an opportunity for users to engage with these developers and creators by minting unique NFT releases, learning about their journey into the web3 space, and even interacting with creators through messaging on Coinbase Wallet.

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