- Base surpasses Ethereum Mainnet in daily transactions, marking a milestone for Layer 2 growth
- With $4 billion TVL, Base achieves rapid, organic adoption without token incentives or rewards
As a seasoned crypto investor who has witnessed the rise and fall of countless projects, I must admit that Base’s recent achievement is nothing short of breathtaking. The fact that it has surpassed Ethereum Mainnet in daily transaction volume without relying on token incentives or rewards is a testament to its strength and potential.
For the very first time, Base, the Layer 2 blockchain from Coinbase, has processed more transactions per day than Ethereum’s Mainnet.
Reaching this milestone signifies a pivotal shift for the Ethereum community, as second-layer technologies such as Base are boosting Ethereum’s capacity to handle more transactions, demonstrating their ability to surpass the performance of the underlying network.
Remarkably, the blockchain’s expansion isn’t driven by conventional methods such as token rewards or airdrops. Rather, it’s propelled primarily by grassroots adoption, which has led to an impressive total value locked (TVL) of over $4 billion and exceptional user and developer loyalty that stands out from the rest.
For investors, this signals a major shift in focus. Layer 2 networks are no longer just supporting players; they’re becoming dominant forces in the crypto space.
What happened and why does it matter?
For the first time, the blockchain has processed more transactions than the Ethereum Mainnet.
Reaching this significant achievement emphasizes the increasing impact of Layer 2 technologies, specifically tailored to enhance the speed, reduce costs, and improve scalability within the Ethereum network.
It’s quite remarkable that Base, which operates on Ethereum, is currently surpassing the very network it depends on for its functionality.
This development significantly changes how we perceive blockchain structures: Layer 2 solutions are no longer merely underlying support, but they’ve grown into substantial networks on their own. This breakthrough underscores Base’s capacity to foster widespread adoption and paves the way for Ethereum’s progress in addressing scalability issues.
The numbers behind Base’s rise
The ascent of Base has been truly impressive, with the network swiftly amassing a TVL (Total Value Locked) of $4 billion at speeds that are scarcely matched by other blockchains. This rapid expansion is a clear indication of its widespread acceptance and practical value. In contrast to numerous Layer 2 counterparts, Base has thrived without distributing free tokens, airdrops, or incentives, suggesting genuine, grassroots adoption.
One notable success story is Base’s exceptional ability to retain both users and developers within the Layer 2 solution category. This longevity suggests not only that projects and individuals are choosing Base, but also that they are committed to staying, which underscores a strong and enduring ecosystem.
This shows faith in the platform’s future capabilities, making Base a frontrunner in the field of Ethereum scalability solutions.
What’s driving Base’s success?
What this means for investors
The increase in popularity of blockchain technology significantly impacts both Layer 1 and Layer 2 networks. This growth particularly emphasizes the importance of Layer 2 systems, such as Base, for Ethereum when it comes to addressing scalability issues. Now, investors might ponder whether it’s worthwhile to pay closer attention to solutions like Base in the future.
The supremacy of the blockchain might pose a threat to competitors such as Arbitrum and Optimism, but at the same time, it would open up possibilities for initiatives developed within its ecosystem.
On the other hand, intense rivalry and swift advancements in the Layer 2 sector may introduce risks. Astute investors are advised to keep a close eye on Base, looking out for potential early-stage investments, all while being mindful of the hurdles that come with its rapid growth trajectory.
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2024-12-19 05:11