Moya (moya17)

--- BASED at London School of Economics, Blockchain Society --- Last week we had Clemens, head of UK from @base.base.eth to share his journey in the crypto space and more importantly, the Base App! Base's builder culture sounds super cool, excited to explore more and share what I learn on Farcaster :)

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[Base Origins: Testnet - 01] Q4 2022: Coinbase was dying - Stock down 60%+ - Lost $2.6 billion - Fired 2,000 people in two rounds - SEC killed staking for everyone (Kraken paid $30M fine) Feb 23, 2023: Base testnet launches: - Community went crazy: “Coinbase finally building instead of just trading!” - Promised “we’ll decentralize step by step” but kept full control of the network -> “100% decentralized (except everything we control)” - “No plans for a token” -> everyone laughed: “heard that one before” Two years later: - Base saved the company. Stock just hit new all-time high above $400 - That “full control” thing is still there. Real decentralization coming 2026 - Everyone now yelling “wen token” louder than ever Base wasn't a fun experiment, it was the lifeboat. A centralized company used a still-centralized chain to survive and win. Is this crypto’s victory, or did we just quietly give up on the dream? :)

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June 15, 2023: The Base testnet is running with steady activity. - Real transactions started appearing - Dune Analytics launched the first public dashboard that same week - @coinbase wrote a short blog post saying the testnet was now open for wider testing With real activity visible, builders could see costs stay tiny and everything move quickly. People started trying small things: sending test payments, making simple pages, sharing things with friends. Anyone could check the progress and start building without waiting for permission. A network only feels alive when strangers can watch it work :) @jesse.base.eth

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By early 2023, the Layer 2 chains that were actually live and open for real users were mainly Optimism, Arbitrum, zkSync, Polygon, and Starknet. Scroll, Linea, and Mantle already letting developers test on their upcoming networks. @coinbase had spent months testing all of them in private. June 28 2023, Coinbase posted a simple blog with a few charts comparing different Layer 2 chains. It actually told everyone that Coinbase had already built its own chain, @base.base.eth, and it was already the cheapest and most used one on the list. Word spreads fast: “Coinbase already shipped it and nobody noticed” Some builders had been using it for weeks without knowing it would become Base. Six weeks later @friendtech.eth launched straight there, the numbers made the decision obvious. It was about taking what already worked, making it cheaper and simpler, putting it inside the app that hundreds of millions of people already open every day, and fixing the hard stuff later. Sometimes the quiet truth is the loudest signal of all :) @baseapp.base.eth @jesse.base.eth @baseposters.base.eth

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