Network (Blockchain Network)
A specific blockchain system where transactions are processed. When sending USDC, you must choose which network to use.
"Network" and "blockchain" are often used interchangeably, but in practice "network" usually refers to the specific chain you're transacting on. When Coinbase asks you to "select a network" for your USDC withdrawal, they're asking which blockchain you want to receive it on.
This choice matters a lot. USDC on Ethereum, USDC on Base, and USDC on Solana are all worth $1 and backed by the same reserves, but they exist on separate networks. Sending USDC on Ethereum costs more in fees, while Base and Solana are nearly free.
The most important rule: the sender and receiver must use the same network. If someone sends you USDC on Base but you gave them a Solana address, the funds could be lost. Always confirm the network before sending or receiving.
Related Terms
Blockchain
A distributed, immutable digital ledger that records transactions across a network of computers.
Layer 1 (L1)
The base blockchain network that processes and finalizes transactions on its own. Examples: Ethereum, Solana, Avalanche.
Layer 2 (L2)
A secondary network built on top of a Layer 1 blockchain to increase speed and reduce transaction costs. Examples: Base, Arbitrum, Optimism.
Gas Fees
Transaction fees paid to blockchain validators for processing and confirming transactions.
Address (Wallet Address)
A unique string of characters that identifies where cryptocurrency can be sent, like an account number for your wallet.
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This definition is provided for educational purposes. USDC.org is an independent resource and is not affiliated with Circle Internet Financial.