In the dynamic world of Ethereum Layer 2 scaling solutions, a new network has emerged with strength and determination. Base, a network developed and incubated by cryptocurrency exchange giant Coinbase, has shown impressive growth in terms of daily transactions, challenging the already established Arbitrum and Optimism. Since its public release, Base has proven to be a force to be reckoned with. In just a week after its debut, it surpassed the Optimistic Rollup, Arbitrum and Optimism networks, in terms of average daily transactions. According to the data, Base’s seven-day moving average reached 610,000 transactions on August 15, beating Optimism’s 597,000 and Arbitrum’s 576,000. But what is driving this rapid growth? One of the key drivers has been the increase in daily active users. Base experienced a significant increase, surpassing 100,000 users in just one day after launch.
Revealing Stats: Base vs. Arbitrum and Optimism
Although Base led in terms of unique addresses and revenue generated for the first six days after launch, these numbers have slightly decreased. It’s still impressive though, with 24,000 new addresses generated for Base on August 17, compared to 32,000 for Optimism and 29,000 for Arbitrum. In terms of daily revenue, Base generated $93,000, while Arbitrum and Optimism generated $358,000 and $231,000 respectively. Despite these gains, in terms of total value locked (TVL), Arbitrum and Optimism continue to dominate with $4.2 billion and $1.4 billion respectively.
“Onchain Summer”: The Grassroots Initiative Driving Adoption
Base has not only been in the news for its numbers. The network launched its “Onchain Summer” initiative, which features a series of on-chain art, gaming and music projects, all powered by Base. This initiative seeks to demonstrate the efficiency and profitability of the Layer 2 chain. With collaborations such as Coca-Cola’s “Masterpiece” NFT collection and projects such as Friends With Benefits, Base is positioning itself as an innovative and cutting-edge network. As we go forward, it will be interesting to see if Base can keep up this early momentum. With its strong infrastructure and backing from Coinbase, it certainly has the potential to do so.
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