The Layer 2 blockchain of one of the world’s largest crypto exchanges, Coinbase, Base, has just reached a historic milestone by surpassing Ethereum in daily transactions. This remarkable achievement propels Base to become the undisputed leader in scaling solutions.
A meteoric rise that is shaking up the crypto ecosystem
Base, launched in August 2023, has had a meteoric rise. In less than a year, this blockchain built on Ethereum in collaboration with Optimism has risen to the top of the Layer 2 ecosystem.
According to Coin 98 Analytics, Base has just reached a historic milestone surpassing Ethereum in terms of daily transactions, with more than 4.2 million operations per day, establishing itself as the undisputed leader in second-layer solutions.
There are several factors behind this meteoric rise. The expertise and resources of crypto exchange giant Coinbase have played a crucial role. The implementation of the EIP-4844 protocol on Ethereum has significantly reduced transaction fees, making the platform more attractive.
In addition, the environment conducive to innovation has attracted many developers, while users have been won over by the combination of performance and security offered by Base.
Recently, Base’s TVL (total value locked) exploded by 465% in the last three months, reaching $7.41 billion. This spectacular growth eclipses that of its direct competitors like Arbitrum (+13%) and Optimism (+12%).
A flourishing ecosystem that attracts all eyes
Base doesn’t just impress with its numbers. Blockchain has created a complete and diverse ecosystem. Giants like Coca-Cola and Atari have joined the platform, recognizing its innovative potential.
Many DeFi projects have established themselves there, including 1inch and Maple Finance, strengthening its position in the world of decentralized finance.
The world of NFTs and digital creation is also finding fertile ground on Base, attracting artists and collectors. In addition, meme coins are experiencing phenomenal success, with tokens like Base Dawgz, Brett and Toshi capturing the attention of investors.
The future looks bright for Base. The upcoming launch of Coinbase’s smart wallet is expected to further accelerate its adoption. With ambitions of reaching 1 billion users, Base could very well redefine the standards of the blockchain industry.
By combining technical performance, a rich ecosystem and the support of a major player, Base is establishing itself as a key player in Web3. Its meteoric rise is a testament to the growing maturity of Layer 2 solutions and could well herald a new era for blockchain.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
