Coinbase and Ethereum, two pillars of the crypto universe, have just reached a significant milestone with the layer 2 network, Base. Developed by Coinbase, this bullish rollup surpassed Arbitrum in terms of total value locked (TVL), reaching $2.49 billion. This figure now places Base in the top 5 global blockchains, a position that is reshaping the landscape of Ethereum scalability solutions. But what does this mean for the future of crypto, and what are the prospects for such a shake-up in the layer 2 ecosystem?
Base redefines the Layer 2 solutions landscape
Base quickly rose to prominence, rising to the top of Ethereum's Layer 2 solutions, a rise marked by surpassing Arbitrum in TVL.
This network, designed to process transactions outside of the main Ethereum blockchain while periodically returning data to it, is based on optimistic rollup technology.
This allows it to offer lower transaction fees and increased speed, which is attractive to both users and DeFi protocols.
To date, approximately 366 protocols are deployed on Base, including decentralized exchange Aerodrome, which contributes $1.3 billion in TVL.
With $2.49 billion locked, Base is not only Ethereum's largest rollup; it also ranks among the most powerful blockchains, just behind giants like Tron and BNB Chain.
This rapid progression is the result of a well-thought-out strategy from Coinbase, which sees Base as a lever to democratize access to fast and economical transactions on Ethereum.
Eden Au, research director at The Block, emphasizes that this advancement of Base reflects Coinbase's commitment to position Ethereum as the reference platform for Layer 2 solutions. Ultimately, this could make Base the central pillar of the vision of Ethereum in terms of scalability.
Coinbase's strategic plan doesn't stop there. To cope with the increase in activity, Base recently increased its gas target to 13 Mgas/san adjustment intended to absorb the growing volume of transactions.
By relying on an incremental pace of evolution, Base is preparing to handle up to 1 Ggas/s, a capacity that could revolutionize the entire Ethereum ecosystem.
An impact that shakes the crypto universe
Beyond the numbers, Base's rise has a much broader scope. By reaching 1.5 million daily active addresses, Base surpasses all other Layer 1 cumulatives in terms of user activity.
This speaks not only to the growing popularity of this rollup, but also to a real demand for solutions that optimize the capabilities of Ethereum.
The success of Base also reflects a paradigm shift in the way users perceive Layer 2 solutions: they are no longer simple extensions, but essential players in the crypto ecosystem.
However, everything is not perfect yet. Base, despite its success, is still in a maturation phase.
At this point, it is missing some crucial features to ensure full decentralization. In the absence of an anti-fraud system, users must trust developers to ensure transaction transparency.
But Coinbase has already anticipated these needs and plans to integrate fraud evidence into the next phase of development, a move that should enhance security and user trust in the long term.
At the same time, Coinbase continues to assert its position by strengthening Base's integration with the main Ethereum network. This interaction between accumulation and Ethereum ensures interoperability which opens up new perspectives.
By offering a solution that combines the security of Ethereum and the scalability of Base, Coinbase is positioning itself to attract DeFi protocols, dApps and developers looking to capitalize on the efficiency of Layer 2 solutions.
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