You might already heard of the new L2, Base. But what about it. How is it related to Optimism? Here is a short and easy summary.

The team behind Optimism, a decentralized blockchain technology, has achieved a lot over the past two years, including saving users billions of dollars in fees and years of waiting time. However, they realize that Ethereum hasn't been fully scaled yet, and they want to address this issue by creating a unified network of chains called the Superchain.

The Superchain is a system of parallel chains that are interoperable and composable, meaning they work together seamlessly. This approach solves the problem of a multichain world, which can be challenging for brands and ecosystems looking for a platform to call home.

To achieve this, the team at Optimism is working towards a future where launching an L2 is as easy as deploying a smart contract to Ethereum. They also emphasize the importance of building together as a community, which is why they welcome new entrants like Coinbase to join their mission.

Coinbase is contributing as a core developer of the OP Stack codebase and as a new L2 blockchain called Base. This collaboration is expected to upgrade Optimism Mainnet, Base, and other L2s to an initial Superchain structure with shared bridging and sequencing.

In the long term, the Superchain could become a sprawling network that maximizes interoperability and shares decentralized protocols while funding public goods.

As core developers, Coinbase will join OP Labs in contributing to the mission of the Optimism Collective, extending the OP Stack’s lead as the most OverPowered public good in the game.

As a chain, Base will commit a portion of transaction fee revenue back to an Optimism Collective treasury, furthering the vision for a sustainable future where Impact = Profit.