The Base network shows significant transaction growth, marking its successful evolution in 2024.
Growth of Base's Transactions
Since March, the Base network has been on an upward trajectory, growing its transactions from 500,000 to over 7.5 million daily by late December. This ecosystem growth has been powered by innovative protocols like Virtuals, a platform of AI agents which have helped related tokens build a market cap of $3 billion.
Scaling Challenges and Reth Solution
The rapid growth of Base has presented scaling challenges. The demand for storage has increased, with archive nodes now needing about 500GB every week and setup times extending to 15 hours. The network’s development team announced the implementation of the Reth solution to enhance efficiency with operational transparency and community-level contributions.
Impact on Ecosystem and Markets
Recent highlights include the record-breaking rise of MegaETH on the Echo platform, where $10 million was secured in just three minutes. This event underscores the significant impact of Base's scaling on the ecosystem and related token markets.
Base is successfully managing rapid growth through scaling innovations, making it a key player in the blockchain industry.
