Coinbase's Base Extension Slows Down Fund Returns

Base is an Ethereum extension built by the American exchange Coinbase. It's an optimistic rollup, which means it first assumes transactions are correct and only later verifies them on Ethereum. This verification process is called a fault proof.

Base uses the OP Stack, an open construction kit for layer-2 networks. As a result, every tool from Ethereum works seamlessly on Base without modification, including wallet formats, addresses, and smart contracts.

The network's design causes a significant difference in transfer times between sending funds onto Base and receiving them back. The trip from an exchange to Base takes minutes and costs fractions of a cent, while the official route back to Ethereum takes seven days.