- Base has witnessed a surge in transactions and unique addresses, leaving a story to be uncovered.
- Base has achieved a significant milestone by outstripping Solana in Total Value Locked.
- FriendTech has played a pivotal role in igniting Base’s recent surge in activity.
Base, Coinbase’s Layer-2 blockchain network, has been on fire lately, witnessing a remarkable surge in transactions and new addresses in the past two months. The emergence of the new social application, FriendTech, has enabled Base to surpass the likes of Solana, one of its more established competitors.
Base Boasts Higher TVL than Solana in dApp Boom
Base has not merely witnessed a surge in transactions and unique addresses; it has also surpassed Solana in terms of Total Value Locked (TVL). Presently, Base boasts an impressive TVL of approximately $374.43 million, which significantly eclipses Solana’s $306.93 million.
This development underscores a growing trend wherein increasing users and developers opt to harness Base for their decentralized applications and various financial endeavors.
Base Neutrality Principles Introduced for New Blockchain Platform
Base stands as a Layer-2 network constructed upon the Ethereum framework, a collaborative effort between Coinbase and Optimism, with its incubation overseen by Coinbase. Its core mission is to deliver expeditious transaction processing, enhanced scalability, and reduced gas fees.Â
Sponsored
Recently released to the public on the mainnet, Base has garnered notable attention for its rapid expansion. Coinbase recently introduced a set of “Base Neutrality Principles.” This set of principles is aimed at ensuring decentralization and neutrality for their nascent blockchain platform.
On the Flipside
- While Base has surpassed Solana’s TVL, Solana has been contending with its fair share of issues, which might not be fully reflected in the TVL figures.
- While Base aims to reduce gas fees, it’s worth considering whether this could lead to scalability challenges or security trade-offs in the future.
Why This Matters
Base’s exponential growth and its surpassing of Solana in Total Value Locked signify a pivotal moment. This development not only solidifies Base’s position as a potent Layer 2 solution but also underscores the escalating trend of decentralization and innovation, shaping the future of the crypto world.
Sponsored
To learn more about the recent outage that drew comparisons between Base and Solana, read here:
Base Draws Solana Comparisons After First Major Outage
To stay updated on the Coinbase CEO’s call for DeFi firms to consider legal action against regulators for setting a precedent, read here:
Coinbase CEO Urges DeFi Firms to Sue Regulators for Precedent
