Coinbase CEO Brian Armstrong Releases ‘On-Chain Score’ Platform for Crypto Wallets
Coinbase chief executive Brian Armstrong has rolled out a new “on-chain score” platform for crypto wallets.
Onchainscore.xyz assesses crypto wallets for “onchain-nativeness” on a 1-100 scale and provides information about the wallet’s activity history, token swaps, bridge transactions and the number of transactions on Ethereum (ETH) and the layer-2 scaling solution Base.
Armstrong shared results for his own wallet, which clocked an 83/100 and a 66 on the “Talent Protocol Builder Score.”
Onchainscore.xyz asks for Ox addresses currently but promises that Ethereum Name Service (ENS) and Basenames capability will be available soon.
In May, Armstrong argued that layer-2 scaling solutions like Base are facilitating an explosion of crypto use cases with lower fees and faster transaction times.
“Base has helped dramatically reduce transaction fees and confirmation times, getting us closer to our goal of having the average crypto transaction take less than one second and cost less than $0.01 anywhere in the world.
Developer activity on Base increased eightfold in Q1. In the last 30 days, Base has processed over 2x as many transactions as the entire Ethereum network on layer 1.
We’ve made Base faster and cheaper to use with fee reduction by about 80% through protocol upgrades, and our fees are now often below $0.01.”
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