Coinbase Launches On-Chain Identity Verification Services Based on Layer 2 Base

Coinbase introduced Coinbase Verifications, allowing users to attest to account and country credentials on-chain. The services is based on Layer 2 network, Base, and uses Ethereum Attestation Service to ensure verifications are "public and composable".

Decentralized identity, or DID, standard has long been a key missing piece for web3. DIDs can help better protect against Sybil attacks and enable basic use cases, like unsecured loans for individuals or improved governance models.

Coinbase Verification will streamline user experience without compromising on security and compliance. It adds sybli-resistance to airdrop, quest, social or gaming apps, according to the company.