In a remarkable feat, Base by Coinbase has become the fastest Layer 2 (L2) solution to reach 100,000 users, achieving this milestone a mere 56 days after its launch. The metric shared by crypto research platform Delphi Digital, gauged by unique addresses, underscores the burgeoning interest in scalable and efficient blockchain solutions.
The Rise of Base by Coinbase
Base is an Ethereum Layer 2 solution incubated by Coinbase, one of the leading cryptocurrency exchanges. It aims to simplify the development of decentralized applications (dApps) by providing seamless integration with Coinbase’s existing products, user base, and tools. According to Coinbase, Base enables developers to tap into a network of over 110 million verified users and access assets worth $80 billion on the platform.
The platform distinguishes itself by offering easy fiat onramps and powerful acquisition tools, making it a go-to solution for developers aiming to serve a large and verified user base. Base is built on the open-source OP Stack and offers low transaction fees, making it an attractive option for those looking to deploy reliable, secure applications.
The rapid user adoption of Base highlights the growing need for Layer 2 solutions in the blockchain ecosystem. These solutions are designed to handle transactions off the main blockchain, thereby reducing congestion and lowering transaction costs. Base, in particular, claims to be 10 times cheaper than using Ethereum directly, without requiring any code changes from developers.
The rapid growth of Base by Coinbase is a testament to the platform’s robust features and the increasing demand for Layer 2 solutions. As the crypto space continues to evolve, Base is well-positioned to play a pivotal role in shaping the future of decentralized applications and blockchain scalability.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
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