Basecoin

Basecoin ($BASEC) is a Bitcoin-inspired ERC20 token on the base Chain with a one-minute block time.

In each block, one miner is randomly selected to receive Basecoin, with their chances based on the amount of Mining Power they hold.

Mining Power is determined by the number of interactions with the Basecoin smart contract during that block—the more interactions, the higher their chances of earning the reward.
Similar to Bitcoin’s halving, Basecoin block rewards are halved after a set period