Base, Coinbase's Layer 2 network, which runs on ethereum, has reached an all-time high of 9.2 million daily transaction count.
This milestone reflects how quickly Base is being adopted as an option for L2 scalability, making it a leader in the blockchain space. Data of Base scan shows that Blockchain's daily transactions have skyrocketed since its launch on August 9, 2023. The increase in daily transaction count shows that the network can handle more activity driven by its low transaction fees, easy setup for developers, and its seamless integration with Coinbase. .
There are several factors that may have led to the success of Blockchain. It has become a key platform for decentralized finance applications, non-fungible tokens and games, attracting both developers and users looking to take advantage of its scalability. Additionally, its connection to the Coinbase ecosystem allows millions of users to easily interact with dApps. This positions Base well to keep up with the growing demand of the crypto industry.
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Phantom wallet adds more traction to Base:
Phantom Wallet has announced a major addition to its ecosystem by fully integrating with Base.
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Initially designed as a wallet for Solana. The Phantom ecosystem expanded its features to include support for ethereum and Polygon and now also adopts the Coinbase layer 2 blockchain.
With this new integration, which has passed its beta phase, Phantom users can now purchase Ether (eth) and USD Coin (USDC) on Base, in addition to being able to exchange tokens between the Base, ethereum, Solana and Polygon networks.
According Brandon Millman who is the co-founder and CEO of Phantom, “The future of digital asset management lies in cross-chain interoperability.“This progress not only improves the overall user experience, but also strengthens Phantom's role in the Base ecosystem by facilitating navigation and transactions on the other chains.
Base has seen results far beyond its impressive trading volumes. As of November 25, it ranks as the largest Layer 2 blockchain with a total value locked of nearly $3.4 billion, according to DeFiLlama. This rally has put Blockchain far ahead of competitors, such as Decisionat 3 billion dollars. In the overall blockchain domain, Base ranks sixth, after large Layer 1 networks like ethereum, Solana, and bitcoin.
Given a solid foundation in TVL and substantial growth in the user base, the growing importance of Layer 2 solutions in terms of scalability and adoption is evident as they form the central pillar to solve ethereum's congestion problems and high gas tariffs, creating the basis for smoother adoption around the world. DeFi and dApps.
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