- Base, developed by Coinbase, became the leader in Tier 2 in terms of total value locked (TVL) with $2.49 billion, surpassing Arbitrum.
- Base’s integration with 366 decentralized protocols and the airport exchange’s major contribution ($1.3 billion) fueled its growth.
- Despite its success, Base remains centralized and is working to implement fraud proof to achieve full decentralization in the future.
A little over a year after launch Base developed by the company Coinbasehas established itself as a Tier 2 leader in terms of total value locked (TV).
WITH saved $2.49 billion, The base is now ahead of Arbitrumits direct competitor, which reports $2.39 billion in TVL.
Less than a year and a half after its launch, Base surpasses Arbitrum with a TVL of $2.36 billion. pic.twitter.com/teDswAYvfu
— Coin Academy (@coinacademy_fr) October 13, 2024
Base has seen impressive growth, mainly thanks to the successful integration with 366 decentralized protocols. Decentralized exchange AIRPORTspecifically, it contributes a significant portion of that TVL, amounting to more than $1.3 billion. This momentum places Base not only at the top of Ethereum Layer 2 solutions, but also among the top five blockchains in terms of TVL, just behind Layer 1 networks such as Ethereum, Tron, Solana and BNB chains.
Foundation and adoption of rollups + increase in network capacity
Base uses a solution optimistic summarya technology that allows transactions to be processed outside of the main Ethereum blockchain while regularly sending data to it. This mechanism, based on OP stackit helps reduce transaction costs while increasing network scalability.
According to the string data Base it also outperforms other aggregators in terms of user activity, with approx 1.5 million active addresses every day. This level of commitment puts Base ahead of all other aggregators and solidifies its position as the market leader in Ethereum scaling solutions.
To meet the growing demand of users, Base recently adjusted its gas target to block, from 10 to 13 Mgas/s. This modification is part of a strategy to gradually increase the capacity of the network, allowing more transactions to be processed in a single block. Further increases are planned every week with a final goal 1 Ggas/s.
The foundation: still centralized development and a vision focused on Ethereum
Despite his successes, however Base remains in its infancy in terms of decentralization. At this point it is referred to as an optimistic summary of ” level 0 “, a phase the developers call “stabilizer wheels” in relation to small bicycle wheels. Currently, there is no anti-tampering system in place yet, which means that users must trust block designs to present the exact roots of the L1 state.
However, Base developers have confirmed that implementing this fraud proof is part of their plan, with work already underway to ensure full decentralization in the near future.
A meteoric rise Base demonstrates commitment Coinbase and application developers to realize the aggregate-driven vision of Ethereum. In less than a year, Base has become a key player in the ecosystem and cemented its position as Link to layer 2 in terms of TVL AND user activity.
Development strategy Base continues to expand, gradually improving network capacity and focusing on decentralization. This achievement is based on a combination technological innovation and growing adoptionthereby strengthening Base’s role in Ethereum’s future infrastructure.
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