Coinbase has implemented on-chain verification to improve app functionality and community involvement.
On November 9, Coinbase released a feature that allows users to confirm their account and nation credentials on-chain and have access to additional privileges.
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According to Coinbase’s support pages, granted verifications are intended to function as a “trusted badge” that enables access to on-chain apps and advantages. Users will initially receive a badge in Base’s Guild — the membership program for its second-layer network, Base — as well as access to a special Discord channel, according to Coinbase.
Coinbase also stated that verification will soon allow access to gasless (i.e., feeless) transactions, as well as access to other Base network participating apps. Three DeFi systems are among the upcoming apps: Index Coop, Perennial, and Volmex.
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According to Dune Analytics community data, Coinbase has issued over 9,700 attestations to over 6,200 unique recipients since late October.
Coinbase explains the prerequisites for participation
More information can be found on the rest of the help page. It specifies that verifications can be associated with any self-custodial Ethereum (EVM) wallet address but cannot be transferred to other addresses. According to a different part, the verification can be linked to up to three addresses, including MetaMask and Coinbase Wallet accounts.
Coinbase stated that verifying one’s nation of residence is optional, but that access to some apps may be required. It also guaranteed users that their data would not be released on-chain without their permission.
Users must have a Coinbase account that is not subject to buying, selling, or trading restrictions in order to validate an account on-chain, according to Coinbase.
Coinbase also stated that it hopes to eventually allow other parties to provide verifications through the program and broaden the methods by which users can be confirmed.
Verifications are issued by the Ethereum Attestation Service (EAS), an Ethereum community initiative that is also used by other projects like as Optimism.
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