November 29, 2024
Memecoins Highlight Base Blockchain's Decentralization, Says Founder
Jesse Pollak, founder of Coinbase's Base blockchain, stated that the memecoin BALD, referencing CEO Brian Armstrong, proves the platform's decentralization. At Devcon in Bangkok, he noted BALD's unexpected launch showed that Base cannot be easily controlled. While memecoins thrive on Base, the protocol is also expanding in emerging markets, boasting a stablecoin market cap over $3.5 billion. Despite concerns about centralization due to Coinbase's involvement, Pollak affirmed that Base allows users to transact independently, enhancing its openness and resilience.
The news about the emergence of the memecoin BALD on Coinbase's Base blockchain may have both positive and negative effects on coins such as ATOM (Cosmos), XCH (Chia), and SEI (Sei). This event not only raises investor interest but also reflects the development trends of other blockchains in the current cryptocurrency market.
First, the attention from memecoins could attract more investors and users to other blockchains, including ATOM and SEI. The way Base demonstrates expansion and risk acceptance might encourage other projects to seek similar models, thereby increasing competition and innovation within the ecosystem.
However, the connection between Coinbase and Base also raises concerns about centralization, which could affect market sentiment toward projects like XCH. Investors may become more cautious about projects they perceive as having high control risks from large entities. Furthermore, if Base continues to thrive, this could make it difficult for coins from other blockchains to attract attention and investment.
Finally, Base's development in emerging markets may also drive demand for stablecoins and other digital assets, benefiting platforms like XCH and SEI if they can seize this opportunity to expand their markets and offer effective financial solutions.