In this article, we explore Base, a new Layer 2 network from Coinbase, designed to reduce transaction costs and optimize Ethereum operations.
What is Base?
Base is a Layer 2 solution developed by Coinbase, using OP Stack and functioning as an Optimistic Rollup. It aims to reduce transaction fees and ease Ethereum network congestion. Base doesn't have its own token and uses ETH for gas fees. The project's goals include decentralization and providing a developer-friendly environment.
Base's expansion and the surge of memecoins
Base continues to grow, with over $3 million in TVL, ranking as the fourth-largest EVM network. Base leads in stablecoin volume among networks. Memecoins actively traded in the Base ecosystem include Brett (BRETT) with a market value exceeding $1 billion.
1inch on Base
Base has become one of the most active chains on 1inch, with over $7 billion trading volume. 1inch supports key DeFi protocols on Base, such as Uniswap v3 and Balancer v2. All 1inch products, including the 1inch Wallet and 1inch dApp, are fully compatible with Base, creating new opportunities for users.
Base by Coinbase is a significant player in the Layer 2 market, providing cost-effective and efficient transactions on the Ethereum network, supported by the 1inch ecosystem.
