Plain English
Base is an Ethereum L2 launched by Coinbase in 2023, built on the OP Stack. It targets consumer onboarding by integrating tightly with Coinbase’s ~100M-account user base. No native token (as of 2026) — fees are paid in ETH. Daily active users routinely exceed all other L2s combined.
How it actually works
Base inherits Optimism’s security model and revenue-share with the Superchain. Coinbase runs the sequencer with a published decentralization roadmap. The chain is EVM-equivalent — any Ethereum contract works as-is. Onramps are direct from Coinbase accounts; this is the easiest L2 for consumer wallets to enter.
What it means for you
Base has become the default L2 for consumer-facing apps and the home of much of the 2024–25 memecoin and creator-token activity. For users, it offers the smoothest onramp from a CEX directly into self-custody DeFi. For HNW positioning, watch whether Base eventually issues a native token — the speculation around this is one of the largest narrative bets in crypto.
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Educational content only. Not investment, tax, or legal advice.