EthCC Voices: Jesse Pollak, Creator of Base
During his interview, Jesse provided insights into key industry developments, the importance of product quality, future trends, and the projects and initiatives his team is working on.
Welcome to EthCC Voices, the Medium Series for the EthCC community. Taking place in Paris from 17–20 July 2023, the conference organised by Ethereum France is regarded as Europe’s leading Ethereum conference for the community by the community!
Jesse Pollak, Creator of Base, an Ethereum L2, incubated by Coinbase and built on the open-source OP Stack.
Jesse, could you please share some significant moments that have stood out in the crypto industry over the past year?
The launch of the base testnet was a significant event. The largest crypto company, Coinbase, in the world, announced its plan to build an open-source decentralized alternative to itself called Base. This was a turning point, making people recognize that this is a real and rapidly approaching development. Coinbase also launched the “Stand with Crypto” campaign, using NFTs to promote advocacy and engage more people. This shift towards practical on-chain utility marks a significant shift in the crypto industry, moving beyond financial speculation.
Regarding the current state of community management in the crypto industry, have you observed any negative effects particularly in relation to the emphasis on token price versus actual use cases?
In recent times, there has been an excessive focus on the financial aspect of the crypto industry. The crypto industry is shifting from focusing on financial aspects to focusing on creating enjoyable, valuable products, surpassing solely on token speculation.
Base’s creation aimed to attract a strong user base by creating a top-notch product that meets user needs and enhances daily lives. This approach eliminates economic manipulation and engineering, focusing on adding value and simplifying user experiences, ultimately driving adoption and usage.
What are some new trends you think will emerge over the next 12 months, which ones are you excited about?
I believe there are three significant developments that are needed to facilitate the onboarding of the next billion users to the blockchain. First, the availability and security of low-cost Layer 2 solutions must be improved. The upcoming Ethereum upgrade EIP 4844 will reduce costs by 5–10 times. Base and advancements in technologies like optimism arbitrage will contribute to a mature ecosystem of Layer 2 solutions. Second, better identity tools for the average user will enable access to products requiring identity verification.
This will unlock new use cases and applications. Finally, wallet management will be improved, with developer tools like Coinbase and embedded wallets from companies like Magic Link and Privy. This focus on improving wallets will greatly enhance user experience and pave the way for widespread adoption.
How has being a part of the EthCC impacted you and your team thus far? Has anything come out of it?
This is actually my first year attending EthCC, and I’m filled with excitement about speaking at the event and being part of it. I’ve heard fantastic things about EthCC from previous attendees, and I know that Coinbase has found great value in participating in the past. One key aspect that has been immensely beneficial to us is the opportunity to gather together with the core developers and the broader Ethereum ecosystem. As builders and developers ourselves, being in this collective space allows us to explore ways to collaborate, scale, and advance this technology.
Last year, during discussions at EthCC and DEVCON, the team decided to pursue Base as a project. They identified a shared struggle in building effectively and ensuring compatibility across protocols, offering an opportunity to improve these processes.
What impact do you think Ethereum updates this year will have on the overall ecosystem, crypto projects, and mainstream adoption?
I believe there are two significant Ethereum updates that are expected to significantly impact the ecosystem, crypto projects, and mainstream adoption. The Danksharding update, set to be introduced in the fall, will reduce Layer 2 solution fees by five to ten times, resulting in cents transaction costs. This breakthrough in usability and accessibility is expected to drive broader consumer adoption and unlock new use cases. Additionally, EIP-1153 introduces transient storage, providing developers with new tools for building applications and enabling innovative and user-friendly experiences.
Anything else to add?
We’re developing a website specifically designed for developers to build on Base easily. For those interested in exploring and building on Base, visit base.org for resources to get started. If you are new to smart contract development, we recently launched Base Camp. It’s a comprehensive self-paced curriculum that provides step-by-step guidance. Visit base.org/camp.
