Coinbase’s creation, Base, has emerged as the largest Layer 2 network, surpassing the Optimism (OP) Network. This Ethereum network has seen a 20% increase in total value locked (TVL) since May, reaching $1.7 billion. With its mainnet launching in August 2023, Base now ranks as the third most valuable Layer 2 blockchain, trailing behind Arbitrum and Blast. The network’s growth has been fueled by decentralized exchange Aerodrome and is a key player in the Superchain ecosystem. This ecosystem, utilizing OP Stack software, aims to enhance Ethereum’s scalability by processing transactions off-chain. Base’s success underscores its potential to drive innovation and scalability in the Ethereum ecosystem.
