The Base Network is making waves in the Ethereum Layer 2 ecosystem, showcasing impressive growth and user engagement. With a significant increase in daily transactions, it is quickly establishing itself as a formidable player in the space. According to analysts cited in the report, the outlook is promising.
Base Network Achieves Remarkable Transaction Volume
Recently, the Base Network has been processing over 10 million transactions each day, a remarkable feat that underscores its transaction velocity. Additionally, the network supports between 600,000 and 1 million active addresses, indicating a robust user base that continues to expand.
Comparison with Other Layer 2 Networks
In comparison to other prominent Layer 2 networks such as Optimism and Polygon, Base's rapid adoption is particularly noteworthy. While Arbitrum currently leads in Total Value Locked, the swift growth of the Base Network suggests a strong potential for future development and user engagement in the Ethereum ecosystem.
In a significant development for the cryptocurrency space, Litecoin has introduced a new Layer 2 solution, LitVM, which will be implemented in stages to ensure stability. This rollout contrasts with the rapid growth of the Base Network, highlighting different approaches to enhancing network capabilities. For more details, see read more.
