Vitalik Buterin Criticizes Coinbase’s Dominance Over Base Layer 2 Revenue
Ethereum co-founder Vitalik Buterin has raised concerns over Coinbase’s corporate control of Base, which accounts for 60% of income from layer 2 blockchain operations.
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Terms & Concepts
Layer 2: A secondary blockchain protocol built on top of an existing blockchain to improve scalability and transaction speeds.
Base: A layer 2 network launched by Coinbase designed to provide faster and cheaper Ethereum transactions.
Corporate Control: The centralized decision-making authority held by a company over its owned or managed blockchain infrastructure.