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Station Labs Founders to Join Coinbase to Work on Smart Wallet Base

Coinbase, the cryptocurrency exchange giant, is set to integrate the Station Labs team into its operations to enhance its smart wallet, Base. Leveraging the Station Labs team’s expertise in developing onchain tools, Coinbase aims to fortify Base’s capabilities.

Designed as the onchain hub for Coinbase’s products, users, and assets, Base also serves as an open platform for developers to innovate. With over $130 billion in assets on its platform, Base stands as a significant player in the crypto ecosystem.

Founded by Tina He, alongside cofounder Mind Apivessa, both of whom are former Facebook employees, the Station Labs team brings valuable experience to Coinbase’s development endeavors.

Base operates on Optimism’s OP Stack, renowned for its security and scalability as one of the leading EVM Layer-2 solutions available. The OP Stack, an open-source initiative, lays the groundwork for a network of Layer-2 solutions, facilitating interoperability, sequencing, and governance.

Coinbase identifies the complexity of onboarding users and developers onto blockchain platforms as a major hurdle to widespread adoption. By integrating the Station Labs team and enhancing Base’s functionality, Coinbase aims to address this challenge and drive further growth in onchain adoption.

In a recent blog post, Coinbase highlighted the expertise of Station’s founders in developing essential tools for developers and creators. These tools facilitate the seamless integration of fundamental on-chain elements like wallets and token-based interactions, while also abstracting away gas fees for end-users.

As Base and the wider Layer 2 (L2) ecosystem expand, Coinbase reaffirms its commitment to equipping developers with user-friendly tools that streamline the adoption process for consumers, enabling phraseless, gasless, and on-chain experiences.

Coinbase expressed excitement about collaborating with Station’s founders, recognizing them as leading innovators in the on-chain tooling landscape. Together, they aim to empower the next generation of builders to leverage the benefits of blockchain technology.

On-chain transactions directly occur and are recorded on the blockchain, offering heightened security and transparency.

May Saw Surge in Google Search for ‘Onchain’ Term

In May, Google search interest in the term “onchain” experienced an unprecedented surge, reaching its peak according to data from Google Trends.

Over the past five years, global search interest for this term had consistently hovered below 25 out of 100, with a temporary spike to around 30 in March.

Coinbase made headlines on Monday with the announcement of a $25 million donation to the pro-crypto super PAC Fairshake. This significant contribution aligns with recent donations from Ripple, a crypto payments company, and Andreessen Horowitz, a tech-focused venture capital firm.

Following Coinbase’s donation, Fairshake’s total funding now reaches $160 million, firmly establishing it as one of the top five largest super PACs for this election cycle.

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What we write about

I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

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