A new Ethereum layer 2 built on the Optimism stack has been announced by Coinbase.In this episode, NLW examines Coinbase's announcement of its new layer 2 chain, paying particular attention to:Exchanges moving from layer 1s to layer 2sNo token Wall Street not getting it Developer competitionOn-chain know-your-customer (KYC)?“The Breakdown” is written, produced, and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Coinbase, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.