Base Network: A network with the spirit of banks..
- Coinbase, the largest crypto platform in America, launched a Layer 2 network called Base, which is supposed to be part of Ethereum, but the reality is different:
Coinbase is the only one that collects fees on the network..
USDC is the basic currency of the network, and Coinbase is already invested in it..
Loans are based on Coinbase's Bitcoin (cbBTC), meaning complete control over the system..
Ultimately, users are dealing with a centralized financial system indirectly, but with blockchain technologies..
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Today, fintech companies such as PayPal and Robinhood and traditional banks such as Wells Fargo are entering the crypto field strongly.
This is creating a hybrid world between crypto and traditional banks, where large companies are exploiting the blockchain, but they are not actually relying on its decentralization.
The important question: Why do we pay fees for Ethereum if all the activity is taking place on centralized networks?!
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Is there anything left of decentralization?!
In light of these transformations, many projects are trying to maintain the spirit of decentralization, such as:
Arbitrum, which relies on DAO to manage profits.
Bitcoin, which still maintains its original vision without radical changes.
But the average user does not demand real decentralization, so is it logical to expect it to continue?
Share your opinion with me in the comments ..
