In a recent statement, Coinbase CEO Brian Armstrong expressed his enthusiasm for the transformative power of layer-2 scaling solutions in the crypto economy. He believes that these solutions, akin to the shift from dial-up to broadband in the Internet era, could unlock a multitude of new possibilities by reducing fees and accelerating transaction times.

Base: Making a Mark in Layer-2 Space

Armstrong also highlighted the success of Base, Coinbase's Ethereum layer-2 platform designed to onboard billions of users into the web3 ecosystem. Base has dramatically slashed transaction fees and speeds, moving the company closer to its vision of enabling crypto transactions in less than a second and costing less than $0.01 globally. Developer activity on Base surged in Q1, with the platform processing more transactions in the last month than the entire Ethereum network on layer 1.

Bitcoin and the Influence of ETFs

Armstrong acknowledged the positive impact of spot market ETFs on Bitcoin and the broader crypto market. While ETFs have gained considerable attention, he believes that the increased interest in crypto assets has sparked enthusiasm for all products in the industry.

In summary, Armstrong's remarks underscore the significant potential of layer-2 scaling solutions to revolutionize the crypto economy by reducing costs and enhancing usability. The success of Base and the rise of Bitcoin ETFs indicate a promising future for the industry.