Blog posts, Product | 09/05/2023
Base, the new Layer 2 incubated by Coinbase, joins the Ledger Live ecosystem!
Things to know: |
– You can now create a Base account in Ledger Live Desktop and Mobile Android to send and receive ETH, with your private keys securely stored in your Ledger device. – 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. – There are no plans to issue a network token. Be aware that scammers may be offering or sending fake Base tokens. – Everyone is welcome to build on Ledger Live, bring their coins and make them accessible to Ledger communities. You’ll find all the resources you need here if you’re a developer. |
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 Live
Create a Base account in Ledger Live is easy:
- Open your Ledger Live app.
- Navigate into the accounts tab in Ledger Live and create a Base account.
- Verify and confirm the address to deposit your ETH tokens.
It’s as simple as that.
Explore the Internet of Value securely with Ledger
Ledger Live, with over 1.5 million active users, allows you to buy, sell, swap, stake, and lend your digital assets and explore the Internet of Value with ownership and security. With the Ledger Live app, you can also access an ever-expanding list of DApps in the Discover section, with your private keys automatically safeguarded on your Ledger device.
If you don’t have a Ledger device yet, check this article out to see which Ledger device suits your needs, or view our comparison page for a side-by-side comparison. You can also stay updated on our latest announcements and thought leadership publications through our blog.