Quick look
- Base TVL reaches $4.15 billion, making it the third largest ethereum layer 2.
- 50.34 million transactions in 30 days, surpassing ethereum and Arbitrum.
- It averages 35.19 TPS, demonstrating the ability to handle massive transaction volumes.
- Growing security concerns with 18x increase in phishing scams.
- ethereum upgrades and a projected $1 trillion market cap for its scaling solutions by 2030.
Base, Coinbase's Layer 2 ethereum blockchain, has reached an important milestone within the crypto ecosystem. It has surpassed $4 billion in total value locked (TVL) for the first time. This achievement represents more than just a number. It is a testament to the growing prominence of Base and its potential to transform the landscape of blockchain scalability and efficiency. After this increase, Base has established itself as a formidable contender. It now surpasses ethereum and its closest rival, Arbitrum, in several key metrics.
A double-edged sword: rapid growth and security concerns
Base's rise is accompanied by an increase in daily transactions per second (TPS), which now average 35.19, surpassing the combined TPS of Arbitrum and ethereum. This metric indicates Base's ability to handle massive transaction volumes and its potential to alleviate some of ethereum's scalability challenges. However, the growing popularity of the platform has attracted unwanted attention from scammers, as evidenced by the 18-fold increase in successful phishing scams. This highlights the critical need for stronger security measures to safeguard its growing user base.
The evolution and future prospects of ethereum
Advances within ethereum, such as the March 13 DenCun update aimed at reducing layer 2 transaction fees, indicate an ongoing effort to improve blockchain efficiency. This evolution benefits layer 2 solutions like Base, potentially expanding their role within the blockchain ecosystem. Additionally, VanEck analysts project a bright future for ethereum scaling solutions, estimating a market cap of $1 trillion by 2030. At the same time, eth itself is navigating through turbulent market conditions, struggling to break even. resistance of $3,440. The interplay between ethereum core upgrades and burgeoning Layer 2 networks like Base paints a complex but promising picture for the future of blockchain technology and cryptocurrencies.
In short, Base's remarkable growth and the challenges it faces serve as a microcosm of the broader dynamics of the cryptocurrency market. As ethereum continues to evolve and address its scalability and efficiency issues, Layer 2 solutions like Base are critical to shaping the future of decentralized finance (DeFi), offering a glimpse into the potential for more scalable, efficient, and blockchain networks. safe.
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