Coinbase’s layer 2 blockchain platform, Base, has seen a surge in daily active users, surpassing 100,000 for the first time. This milestone was achieved just a day after the official launch of the network. Data from Dune Analytics on August 10 showed that there were over 136,000 daily users, the highest number in its short history, coinciding with the second day of its public release. It is worth noting that around 30% of the users on August 10 were new Base users, amounting to nearly 42,000. However, the record for new users remains at over 60,000 on July 31.
Furthermore, according to crypto market data platform CryptoRank, Base currently ranks fourth in daily transactions per second among layer 2 solutions. It follows zkSync Era, Arbitrum, and Optimism. This demonstrates the strong growth of Base in terms of both active users and transactions. The ranking reflects the platform’s ability to handle a high volume of daily transactions efficiently.
Coinbase’s Base network officially launched on August 9, following a period of being open exclusively to builders. The event was dubbed the start of the “Onchain Summer.” The network initially launched in beta version on February 23, with expectations that it would attract more users to Web3 protocols due to Coinbase’s large user base. On July 13, the network launched its mainnet version for builders, although it was not yet ready for general users.
Currently, users on Base have several functionalities available to them. They can bridge Ether (ETH) to Base, utilize a decentralized cryptocurrency exchange, make payments with a web-based app, register a “.base” username, and even launch a decentralized autonomous organization. This wide range of features offers users a diverse set of options to engage with the platform and take advantage of the benefits it offers.
The success and growth of Base demonstrate the increasing interest and adoption of layer 2 solutions in the crypto space. As more users recognize the scalability and efficiency that these solutions provide, there is likely to be continued growth in the usage and popularity of platforms like Base. This increased adoption will further contribute to the development and maturation of the layer 2 ecosystem, creating a more robust and sustainable infrastructure for decentralized applications and transactions.
In conclusion, the launch of Coinbase’s Base network has proven to be a success, with daily active users exceeding 100,000 for the first time. The platform’s growth in terms of users and transactions solidifies its position in the layer 2 space and demonstrates the increasing demand for scalable and efficient blockchain solutions. As Base continues to evolve and attract more users, it is expected to play a significant role in shaping the future of decentralized finance and Web3 protocols.
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