It will please supporters of Solana (SOL) that the CEO of Coinbase, the largest cryptocurrency exchange in the US, made a comment.
According to CEO Brian Armstrong, the cryptocurrency exchange Coinbase wants to make platform transactions “under a second and a dime,” and integrating with Solana (SOL) is one step toward achieving this lofty goal.
Lightning integration with other fast layer-1 networks, like Bitcoin and Solana, is something the business is aiming to achieve, according to Armstrong. This change is going to be implemented as part of a larger plan to integrate layer-2 solutions into the Coinbase platform by default.
Coinbase has no intentions to create a coin for its layer-2 network, Base, according to Armstrong, who dispelled prior rumors. This goes against what Coinbase Chief Legal Officer Paul Grewal had said before, when he hinted at the possibility of a token’s implementation in the future. But a representative from Coinbase has said categorically that the company has “no plans” to release the Base network coin.
Armstrong has voiced his satisfaction with the Base Network’s performance since it went live in August. With approximately $500 million in TVL, the network quickly rose to the position of the third-biggest tier-2.
Currently, the team is focusing on finding ways to connect Base with other apps. “Very excited” to work with layer-2, according to developers.
On his own, Armstrong set the lofty objective of bringing the average Coinbase transaction time down to “under one second and one cent.” It will be necessary to make Layer 2 the default on the platform and to upgrade Base in order to do this.
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