This is so important to understand for people entrusting their wealth to a sequencer apparatus masquerading as a blockchain.
Remember, coinbase WANTS to remain centralized. They WANT to be the bank, the network, the wallet and gatekeeper.
They make money not by furthering crypto's mission, but by extracting from its users via fees. What they say, and what they do and how they are built, are all very different things.
Wouldn't touch that shiny lure credit card of theirs for a second.
I'm not here to relive another live under centralized control.
Been there done that. There is no APY% that will lure me.
Common misconceptions. @coinbase #Base is not a blockchain. It is a Ethereum L2 sequencer.
Base, as an Ethereum Layer-2 scaling solution built on the Optimism OP Stack, does not have validators in the same way that Layer-1 blockchains do. Instead, Base operates as an optimistic rollup, relying on a SINGLE sequencer node, currently controlled by @coinbase , to process and batch transactions before submitting them to Ethereum's Layer-1 for final settlement.
In this setup:
No validators are used for consensus, as Base inherits Ethereum's security and consensus mechanism.
Transactions are assumed valid unless challenged during a dispute period, managed by Ethereum's validators.
Other nodes, like full nodes or RPC nodes, exist to propagate and verify transactions, but they don't perform validation in the traditional sense.
Facts>Feelings.
If you were misled and gaslit that Base is a blockchain, go and express your frustration on their account.
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