Product | 09/05/2023
Base, The New Layer 2 Incubated by Coinbase, Joins the Ledger Ecosystem!
Base, the Coinbase-incubated Layer 2, is integrated into the Ledger ecosystem, bringing high-speed, low-cost Ethereum scaling to the security environment of the Ledger ecosystem.
Things To Know:
– Base is a Layer 2 (L2) network built on top of the Ethereum blockchain, offering a user-friendly way for people to create and use decentralized apps (DApps) on the blockchain.
– You can now create a Base account in Ledger Wallet™ (formerly Ledger Live), manage ETH and ERC-20 tokens, enjoying the speed and low fees of a Layer 2 while maintaining benefitting from the hardware-level protection of your Ledger signer.
— While most tokens are supported natively, you can use the Zerion app in the Discover section of Ledger Wallet to view tokens if they do not immediately appear in your portfolio.
The main objective of Base is to onboard the next billion users into the world of cryptocurrencies by making blockchain technology more accessible. It is designed to function both as a platform for Coinbase’s onchain products as well as an open ecosystem for developers to build their own DApps. While Base is incubated within Coinbase, the plan is to gradually transition it to a more decentralized structure.
A layer-2 network operates on top of an underlying blockchain protocol (Ethereum). It processes transactions off of the Ethereum mainnet (Layer 1), which results in a number of benefits to developers and customers, including:
- Improved scalability and efficiency
- Increased transaction speeds
- Reduced gas fees
- Consistent security measures and decentralization as the mainnet (layer 1)
Learn more about Base network here.
Create a Base account in Ledger Wallet
Creating a Base account in Ledger Wallet is easy:
- Open your Ledger Wallet app.
- Ensure the Ethereum (ETH) app is installed and updated on your Ledger signer.
- Navigate into the accounts tab in Ledger Wallet and elect “Add Account” for Base (ETH)..
- Verify the address on your Ledger signer screen before depositing
It’s as simple as that.
Explore the Internet of Value securely with Ledger
Explore the Base Network with Ledger Wallet
While Base provides the network for high-speed transactions, Ledger gives you seamless control over those transactions. By pairing the seamless interface of Ledger Wallet with the physical security of your Ledger signer, you unlock an uncompromising Layer 2 experience and maintain complete control over your assets.
Ready to explore the Base network? Download Ledger Wallet and add a Base account today.