On August 24th, Base reached a peak of 1.05 million daily active addresses. Although it has decreased to 1.03 million, it still represents a 60% increase since August. Let's discover more about this important milestone for Base.
Impressive Growth of Base
This impressive growth underscores Base’s rapid expansion and its growing dominance in the layer-2 space. The rise in daily active addresses has propelled Base ahead of several other leading protocols. For context, Arbitrum, which holds the second spot in daily active addresses, reports 394,000, while Linea and Mantle trail with 198,000 and 69,000, respectively, according to data from the Ethereum L2 platform GrowThePie.
The Key to Success: Basenames
The notable spike in Base’s daily active addresses follows the launch of its 'basenames' service on August 21. This new feature is powered by the Ethereum Name Service (ENS) platform. It allows users to register human-readable names linked to their Base wallet addresses. This functionality enhances user interaction by simplifying communication on the network and making transactions more intuitive.
Impact on the Ecosystem
Jesse Pollak, Base’s creator, highlighted the success of the new naming service, revealing that over 200,000 Base.eth usernames were minted within the first week of its launch. The ability to purchase a custom name tied to a wallet address has resonated with users, contributing to the platform’s rapid growth. The 'basenames' service not only simplifies the user experience but also potentially broadens the appeal of Base to a wider audience by making it easier for individuals to engage with the network. As users embrace this new feature, Base’s growing ecosystem reflects a broader trend of increased adoption and innovation within the layer-2 space.
The growth in active addresses and the popularity of Base’s new features demonstrate significant progress for the platform. This indicates broader trends in the layer-2 space and increased attention to innovation and user convenience.
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