Karl Floersch's 'Optimism' - The Tech Behind Coinbase's 'Base' Blockchain

• Coinbase Exchange Incorporates 'Base' Layer 2 Network in 2023
• A Closer Look at Karl Floersch and His Journey with OP Labs
• Floersch's Take on the OP Stack
• The Spread of Optimism's Open-Source Stack
• The Modular Nature of OP Stack

Coinbase Exchange Incorporates 'Base' Layer 2 Network in 2023

In 2023, Coinbase Exchange, a leading crypto platform, launched its layer 2 network, 'Base.' This advanced network leverages the blockchain technology of Optimism$3.67 -1.41%. The main advancement firm behind Optimism is OP Labs, spearheaded by its CEO, Karl Floersch.

A Closer Look at Karl Floersch and His Journey with OP Labs

Floersch joined OP Labs as CTO in May 2020, working on an experimental solution to scale Ethereum$2,315 -2.42% at the time. He ascended to the position of CEO in May 2023. During his tenure, he supervised the deployment of the OP Stack, a toolkit that allows developers to create their layer 2 chains utilizing Optimism's technology. This Stack was introduced during the massive network update, the Optimism Bedrock.

Floersch's Take on the OP Stack

Floersch believes that the OP Stack represents a new and exhilarating advancement in open source software development. Before his journey with OP Labs, Floersch was involved in the Ethereum community in various roles, including a blockchain engineer in development studio ConsenSys and a researcher at the Ethereum Foundation.

The Spread of Optimism's Open-Source Stack

The open-source stack of Optimism has made a significant impact on the Ethereum ecosystem. In 2023, it gained a major client, Coinbase, the largest crypto exchange in the U.S. The development team of Coinbase, under the leadership of Jesse Pollak, collaborated closely with Floersch and OP Labs to construct their layer 2 network, known as 'Base'.

The Modular Nature of OP Stack

According to Pollak, one of the key reasons for choosing the OP Stack is its modular architecture. Over the recent years, zero-knowledge rollups have gained widespread popularity. This technology uses complex cryptography to prove the existence of a transaction almost immediately using a small amount of data. On the other hand, optimistic rollups, which form the foundation of the OP stack, require a longer period for transactions to finalize. However, due to the modular nature of the OP Stack, it can leverage proofs from both optimistic and zero-knowledge rollups in the future.

Edited by Jonathan Stoker