What Happened on Feb. 27th | Two Less Talked Features of the Base Chain

TI Research

The announcement of Coinbase's own Layer 2 - the Base chain - has sparked excitement in the crypto community. Crypto Researcher tolks point out there are two less discussed aspects of Coinbase's collaboration with Optimism that may be very important detail.

The first one is Account Abstraction (AA) — Coinbase says Base will enable developers to, “set up gasless transactions for your dapps with easy developer APIs for account abstraction”.

Account abstraction aims to simplify the UX in Web3 apps. It moves the complexities of custody, wallets, and blockchains to the background and replaces them with familiar UX. With account abstraction, users don’t need to download wallets and sign transactions every time they want to complete an action. Instead, transactions can be bundled and approved at once. That’s a vast UX improvement for Web3 applications.

The second is Superchain — Optimism’s announcement of the Superchain: “a project that seeks to maximize interoperability and composability between different chains using the OP Stack, and integrate siloed L2s into a single cohesive layer…a shared optimistic rollup bridge with a path towards native cross-chain communications & data availability” .

We are witnessing the booming of various Ethereum Layer 2 chains. However, this brings fractured liquidity, it becomes increasingly important to unifying liquidity that currently resides in different Layer 2s.

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