This article provides an in-depth exploration of Basenames, an Ethereum Name Service (ENS) subdomain launched by Base Chain, Coinbase's Layer 2 network. It begins by introducing the background and launch process of Basenames, including its significant impact on activity within the Base Chain. Next, it explains the essence of Basenames and its importance within the Base ecosystem, highlighting its core function as an on-chain identity tool. The article outlines key features of Basenames, such as enabling on-chain identity creation, simplifying transactions, fostering social connections, and its decentralized and open-source nature. Additionally, it offers a step-by-step guide to purchasing Basenames and discusses its potential investment value. Whether you're new to blockchain or an experienced user, this article provides a comprehensive understanding of Basenames and its application prospects in the Web3 space.