Crypto:
31684
Bitcoin:
$64.570
% 2.83
BTC Dominance:
%56.8
% 0.11
Market Cap:
$2.18 T
% 0.75
Fear & Greed:
50 / 100
Bitcoin:
$ 64.570
BTC Dominance:
% 56.8
Market Cap:
$2.18 T

Coinbase-Developed Project Surpasses OP Mainnet to Become Largest Layer 2 Network!

Coinbase Backed Base Ecosystem

A Layer 2 Ethereum network developed by Coinbase, Base, has surpassed OP Mainnet to become the largest Layer 2 network in the OP Stack-based ‘Superchain’.

Base Surpasses OP Mainnet to Become Largest OP Stack-Based Layer 2 Network

According to DeFiLlama data, the network’s total value locked (TVL) has increased by 20% since the beginning of May to $1.7 billion.

Launched to the public in early August 2023, Base’s mainnet positioned itself as the third most valuable Layer 2 blockchain in terms of TVL, trailing Arbitrum’s $3.81 billion and Blast’s $2.26 billion.

This significant milestone highlights Base’s rapid growth and increasing adoption among decentralized applications (dApps).

The network’s prominence has been largely fueled by the decentralized exchange Aerodrome, which has contributed $714 million in deposits. Uniswap follows as the second-largest contributor with $312 million.

Base Places Itself at the Forefront of the Superchain Ecosystem

These developments place Base at the forefront of the Superchain ecosystem, an interconnected Layer 2 rollup network built using the OP Stack software suite.

This ecosystem aims to enhance Ethereum’s scalability and efficiency by executing transactions off-chain, thereby reducing the burden on the main Ethereum blockchain.

Base Utilizes an Optimistic Rollup Model

Base, along with other optimistic rollups like Arbitrum, Blast, and OP Mainnet, operates by assuming all transactions are valid by default and only verifying them when fraud proof is presented.

This approach contrasts with zero-knowledge rollups like zkSync, Loopring, and Scroll, which provide cryptographic proofs for transaction validity upfront.

What Base’s Growth Means for the Ethereum Ecosystem

Base’s impressive growth and strategic integration within Superchain underscore its potential to drive further innovation and scalability within the Ethereum ecosystem.

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