Coinbase CEO Launches Onchain Score to Evaluate Crypto Wallets
28.08.2024 19:30 1 min. read Alexander Stefanov
Coinbase CEO Brian Armstrong has introduced a new tool, Onchain Score, designed to evaluate cryptocurrency wallets.
This platform rates wallets from 1 to 100 based on their on-chain activity, including token transactions and interactions with Ethereum and the Base layer-2 network.
Armstrong’s own wallet scored 83 out of 100 and a 66 on another metric related to protocol development.
The platform currently supports Ethereum addresses but will soon include features for Ethereum Name Service (ENS) and Basenames.
Armstrong has previously praised Base for its efficiency, noting that it has cut transaction fees and processing times significantly.
Base has seen a substantial increase in developer activity and transaction volume, surpassing Ethereum’s layer-1 network in recent transactions.
The platform’s upgrades have reduced fees by about 80%, often making them less than $0.01.
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