Coinbase’s Base ID Tool To Revolutionize How Builders Connect Nears Launch

• Base has unveiled an onchain identity system leveraging ENS.
• The onchain identity system has been tipped to revolutionize connections between developers.
• Base will offer a Dutch auction to allow users to secure a name they like.

Just over a year after its public launch, Base , the Coinbase -incubated blockchain, has grown to become the second-largest Ethereum Layer 2 chain by TVL. The network’s rapid rise comes as most investors now see it as the home of retail , largely thanks to extensive support from Coinbase. 

Amid Base’s continued success, developers have taken another step to incentivize activity on the already buzzing blockchain.

Coinbase’s Base Teases Near Launch of Basenames

Base has teased the near public launch of a new product that allows users to convert their alphanumeric wallet addresses to human-readable text. The blockchain teased the product called Basenames on Monday, August 19, marking out Tuesday, August 20, for the launch. 

Basenames builds on the infrastructure of the popular Web3 domain name service Ethereum Name Service (ENS). Specifically, Basenames will work as subnames to an existing ENS name. Subnames act as subdomains under the existing ENS domain, in this case, allowing users to organize and manage their assets and identity on the Base chain separately. Basenames will have the extension base.eth.

Basenames were first unveiled during the BaseCamp Summit on August 1. At the time, developers touted the product as a way to help users avoid erroneous transactions and revolutionize how builders connect.

"Our vision for Basenames is that it is the connective tissue that will enable builders to connect with other builders, builders to more closely connect with the people," Base Head of Product Thomas Vieira asserted during the event.

Developers hope project builders will leverage Basenames to create “holistic” profiles where their skills and proficiencies can be looked up onchain.

“We’re going to make basenames the easiest way to get started building (or living) onchain. you want one,” Base lead developer Jesse Pollak commented on the most recent teaser.

How To Get a Basename

Eventually, getting a Basename will be as simple as going to the website, searching to confirm the availability and registering it. At the time of writing, however, this is only restricted to users who received early access to the product for participating in the BaseCamp Summit.

Developers disclosed that at launch, all available Basenames will be listed via a 36-hour Dutch-style auction, with the premium starting at 100 ETH and reducing to 0.39 ETH and 0.0015 ETH in the first 12 hours and 24 hours, respectively. The auction is intended to offer users a fair shot at securing their preferred name.

On the Flipside 

• Some users have argued that Basenames are redundant for casual ENS users, as their Base assets can still be tracked with their main ENS address.
• Base Name Service, a third-party project that functions similarly to Basenames, offering users .base usernames, has announced plans to shut down to avoid creating fragmentation.

Why This Matters

Beyond making transactions easier for users by eliminating the need for the long alphanumeric wallet address string, Basenames has the potential to strengthen the sense of community on Base while making talent hunting easier for projects.

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