Base publicly launched its mainnet just over two months ago, and the launch was phenomenal. Despite the bear market, it demonstrated exponential growth in just over two weeks. Now that the hype around Base has cooled down, it is time to examine the state of the network.
Let’s explore the key stats of the blockchain’s performance and uncover the reasons behind its popularity.
Key Takeaways:
- Base garnered much attention from the community right after the public launch.
- This led to exponential growth in the number of users and transactions for some time.
- One of the key elements of Base’s popularity is its strong ecosystem and promotional campaigns.
- More Layer 2 blockchains are expected to be launched in 2024, increasing competition in the industry.
What Is Base?
Base is an Ethereum layer 2 blockchain developed by Coinbase, a leading crypto exchange. It is one of the most recently launched Optimistic rollups compatible with the Ethereum Virtual Machine (EVM).
Base focuses on offering advanced features such as Account Abstraction (ERC-4337) and low fees. Its goal is to become a “Superchain” that prioritizes a secure and innovative environment for developers and users in the blockchain space.
Record Breaking Blockchain
Base public mainnet went live on August 9, 2023. Shortly after its launch, it garnered significant attention from the community and builders, positioning itself as a leading Layer 2 network among others.
Although applications on Ethereum continue to enjoy high popularity and face limited competition from oth
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Author: CryptoRank
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