Coinbase's Bold Move: On-Chain Expansion Sparks Decentralization Debate Coinbase, the crypto giant, is making waves again! This time, it's
shifting gears towards an on-chain future, with a strategic move involving
USD Coin (USDC).
Max Branzburg, Coinbase's VP, took to X (formerly Twitter) to share the news. The motive? It's all about
speed and cost efficiency for managing those precious USDC balances.
Enter
Base, an Ethereum L2 solution linked to Coinbase. March saw Base's TVL skyrocket from $500M to a whopping $1B, signaling a promising trajectory.
Is Base blazing a trail? Crypto pundit David Hoffman thinks so, envisioning a future where
all financial institutions embrace on-chain operations.
But hold on! Skeptics raise concerns about Base's centralization. With Coinbase pulling the strings as the
sole operator, some argue true decentralization is still a distant dream.
L2Beat data echoes these worries, revealing that Base is yet to graduate from Stage 0 in terms of decentralization milestones.
While commendable, Coinbase might need to address these concerns to get everyone fully on board the Base train. After all, trust in decentralization is key!
In this ever-evolving crypto landscape, Coinbase's latest move sparks both excitement and skepticism. Will it be enough to quell the decentralization debate? Only time will tell.
