This feels like a cheap Ethereum knock off. But the influence of Coinbase will probably drive it to wide adoption.
The primary benefits of Base will be faster transaction times and cheaper transactions, when compared to Ethereum.
It looks like tokens can be bridged from Ethereum, or created directly on the Base network. If you bridge ETH into Base, you'll get a "wrapped" token called cbETH. The downside of bridging is that you pay both the Ethereum L1 and Base L2 fees for the transaction. The Base L2 fees also depend on how busy the network is, so if you try to execute a transaction at peak times, it could get very expensive.
Coinbase built Base soley to make more money. This network does not benefit anyone but Coinbase. So there could be a few good dApps on the network, but for the most part, I will seek out more decentralized solutions.
Since there doesn't appear to be a native token and it seems like they will primarily be using cbETH, coupled with the fact that this network only benefits Coinbase, I don't see any reason to get involved.
Coinbase is a good on/off ramp to fiat, but this offering doesn't excite me. Show Less
