Coinbase Unveils Turbocharged Transaction Plans with Solana Integration

In an outstanding declaration that has made the hearts of Solana (SOL) fans skip a beat, Coinbase CEO Brian Armstrong has revealed plans to list SOL on their platform and AMP, among others. Leading USD cryptocurrency exchange set to carry out transactions within 1-2 seconds and $0.07-0.10.

Armstrong detailed Coinbase’s intention to incorporate Lightning into rapid layer-1 networks like Bitcoin and Solana. This strategic move forms part of a broader initiative to establish layer-2 solutions as the default on the Coinbase platform.

Contrary to earlier speculation, Armstrong clarified that Coinbase has no intentions of launching a token for its layer-2 network, Base. This contradicts prior remarks from Coinbase Chief Legal Officer Paul Grewal, who hinted at the possibility of implementing a token. However, a Coinbase spokesperson confirmed the absence of any plans to introduce the Base network token.

Expressing contentment with Base network’s advancements since its August launch, Armstrong highlighted its ascent to become the third-largest tier-2 in terms of total value locked (TVL), reaching nearly $500 million within months.

Coinbase Aims for Sub-Second, Sub-Cent Transactions

The focus has shifted to integrating Base with diverse applications, with developers reportedly displaying high enthusiasm for layer-2 collaborations.

Setting an ambitious internal benchmark, Armstrong aims to reduce average transactions on Exchange to “under one second and one cent.” Achieving this goal necessitates enhancements to Base and establishing layer 2 as the default setting on the platform. Coinbase is actively working towards this transformation.

Related Reading | Rippleā€™s XRP: Analysts Paint Bullish Picture with Potential $50 Surge

Furthermore, the authorā€™s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.

Comments (No)

Leave a Reply