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Coinbase’s Base Network Launches Onchain Identities Solution ‘Basenames’
Coinbase’s Base network, a prominent Layer 2 solution on Ethereum, has made a solid entry in the onchain identities sector by launching “Basenames”. These Basenames, built using the Ethereum Name Service (ENS) infrastructure, will allow users to simplify their complex hexadecimal wallet addresses into user-friendly, readable names.
The concept behind ENS subnames is similar to subdomains on websites, where an existing ENS domain owner, such as base.eth, can create and manage multiple subnames or subdomains under their primary name. According to the announcement, Basenames will serve as a critical component of the Base ecosystem, making it easier for users to interact within the blockchain space.
Basenames Launch Details
The launch of Basenames is designed to be inclusive, with all names being made available through a Dutch auction. This ensures that everyone has an equal opport
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