Creating the Future of the Internet Onchain | Jesse Pollak
Episode publishedPodcast: 0xResearch0xResearch
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And because they they are seeing the impact of having a global on chain economy that increases innovation, creativity, and freedom. And so me and my teams and Coinbase and so many other people in the industry, that is what we are working towards. And we've been working for a long time, like more than a decade at this point, But our time has come. And the the moment is now for all of us to put our heads down, to ignore the noise, ignore the prices, to keep building, to stay based, and to create the future of the Internet on chain.
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up, guys? Welcome back to another episode of OX Research. Boccaccio is out today, so you've got me instead filling in as well as Nikhil from the BlockWorks research team, and we're joined by Jesse Pollock from base. Jesse, glad to have you on. I guess just to just to kick things off and, start off the conversation here, I wanna get into what what really inspired the creation of Base, and were there some specific problems or or goals you guys were going after, or trying to solve?
Yeah. Absolutely. So the the creation of Base was kind of a journey. I'd been leading all of the consumer business at Coinbase on the engineering side for 5 years. And, after kind of doing that and getting to a certain scale, I I'd always been a founder and I wanted to go and start something new. And I kinda had this idea of what would it what would it look like if we brought Coinbase on chain? And we have this incredibly powerful new technology platform that's emerging, and Coinbase is kinda at the cutting edge of crypto, but it was founded in 2012 back before smart contracts existed, really
Awesome. Love love all the background. You started mentioning, you know, limitations as a platform, running into issues, launching products, and things like that. I guess I'm curious if we get into maybe some of the technicals there. Can you explain the strategy or the thought process that went into raising the gas limits, for the chain?
Yeah. Absolutely. So we, had been working kind of even before we realized we wanted to launch base on scaling Ethereum. Because as we looked at what it would take to bring the world on chain, we kinda had this idea of, oh, we need to get transactions down to, you know, an average cost of below 1¢ and an average speed of less than a second. That's kind of this point where, everyday people, you know, aren't gonna think about it if it's less than a cent, and, it's gonna feel instant if it's less than a second. And so in early 2022, before we started working on base, we we'd started contributing a
Gotcha. No. It's really helpful, Jesse. And, you know, we'd love to touch on the parallelization part, you know, just in a second. But you mentioned a a really great point where, like, after EIP 4 844, based on its explosion of, of usage, you know, I I think it's very clear that crypto users and traders are very, you know, affected by the cost to transact on chain, and and base was a perfect case study for that. But we've seen instances on
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