Base Creator Jesse Pollak to Lead Coinbase Wallet as Adoption and TVL Surge

Jesse Polakhas, creator of the Ethereum-based layer-2 network Base, has been chosen to lead the Coinbase team managing the exchange's wallet. In a post on X, Polakhas expressed excitement about his new role.

hey everyone - some news: in addition to leading the @base team, i'll be stepping up to lead @coinbasewallet and joining the @coinbase exec team.

i'm really excited to take on this new mandate and to accelerate our mission of bringing a billion people and a million builders...

- jesse.base.eth (@jessepollak) September 30, 2024

He said he's eager to push forward the mission of bringing a billion people and a million developers on-chain.

Polak mentioned that Coinbase Wallet will keep supporting the entire on-chain economy. He said the exchange will now focus on incorporating more of Base's core values into its operations.

Coinbase's Self-Custody Wallet, Empowering Users in the Growing DeFi Ecosystem

Coinbase introduced its self-custody wallet in 2017, marking its entry into the mobile wallet space. This wallet allowed users to securely store, manage, and interact with their cryptocurrencies without relying on a third-party custodian.

The self-custody feature gave users full control over their private keys, enhancing security and ownership. It became a key selling point, particularly for those prioritizing decentralization and privacy.

Building on this mobile success, Coinbase expanded the wallet's availability in 2021 by launching a desktop version. This version was released as a browser extension specifically for Google Chrome.

Coinbase's decision to launch a Chrome extension further enhanced the wallet's accessibility and usability. It allows users to interact easily with decentralized applications (dApps) and other blockchain services directly from their desktop browsers.

In 2023, Coinbase's wallet app experienced a notable rise in popularity, particularly within Apple's App Store. By the start of September, the app had risen to the 99th position in the rankings of free finance apps.

This upward trajectory continued, and by October, Coinbase Wallet had climbed to the 79th spot. This significant jump highlights growing user interest in self-custody solutions, as people want to manage their assets.

Additionally, rising awareness around digital asset security and Coinbase's reputation and reliability as a regulated platform contribute to the wallet's growing popularity.

As more users explore the decentralized finance (DeFi) space, the wallet has allowed them to facilitate seamless on-chain interactions. Therefore, Coinbase has positioned itself as a key player in the crypto wallet landscape.

Furthermore, as adoption increases, Coinbase expects its self-custody wallet to play an even more significant role in bringing more people into the decentralized world.

Jesse Pollak's Impact on the Layer 2 Landscape and DeFi Adoption of Base Blockchain

Jesse Pollak's recognition as one of CoinDesk's most influential figures in 2023 displays his significant contributions to the crypto space. His work on Base, a Layer 2 blockchain, has drawn attention because of its impact on the broader blockchain ecosystem.

Base, the Layer 2 blockchain that Polak spearheaded, has made impressive strides since its launch. One critical metric that showcases its success is the total value locked (TVL) within the protocol.

By crossing the $2.2 billion mark, Base quickly established itself as one of the most prominent layer 2 solutions.

TVL is a critical indicator in DeFi that measures the total capital held within smart contracts. A higher TVL reflects user trust and adoption, indicating that more people actively use the protocol.

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