A Turning Point For Ethereum And Coinbase: The Crypto Universe Shaken!

Coinbase and Ethereum, two pillars of the crypto universe, have just taken a significant step with the Layer 2 network, Base. Developed by Coinbase, this optimistic rollup has surpassed Arbitrum in terms of total value locked (TVL), reaching 2.49 billion dollars. This figure now places Base in the top 5 global blockchains, a position that reshapes the landscape of Ethereum scalability solutions. But what does this mean for the future of crypto, and what are the prospects of such an upheaval in the Layer 2 ecosystem?

Base redefines the landscape of Layer 2 solutions

Base has quickly secured a prime position, rising to the top of Ethereum’s Layer 2 solutions, an ascent marked by surpassing Arbitrum in TVL.

This network, designed to process transactions outside the main Ethereum blockchain while periodically returning data to it, relies on optimistic rollup technology.

This enables it to offer reduced transaction fees and increased speed, attracting both users and DeFi protocols.

To date, around 366 protocols are deployed on Base, including the decentralized exchange Aerodrome, which contributes 1.3 billion dollars in TVL.

With its 2.49 billion dollars locked, Base is not only the largest Ethereum rollup; it also ranks among the most powerful blockchains, just behind giants like Tron and BNB Chain.

This rapid progression is the result of a well-thought-out strategy by Coinbase, which sees Base as a lever to democratize access to fast and economical transactions on Ethereum.

Eden Au, research director at The Block, emphasizes that this advancement of Base reflects Coinbase’s commitment to position Ethereum as the benchmark platform for Layer 2 solutions. Ultimately, this could make Base the central pillar of Ethereum’s scalability vision.

Coinbase’s strategic plan does not stop there. To cope with the increase in activity, Base recently raised its gas target to 13 Mgas/s, an adjustment intended to absorb the growing volume of transactions.

By relying on a progressive evolutionary pace, Base is preparing to manage up to 1 Ggas/s, a capacity that could revolutionize the entire Ethereum ecosystem.

An impact that shakes the crypto universe

Beyond the numbers, the rise of Base has a much broader scope. By reaching 1.5 million active daily addresses, Base surpasses all other Layer 1 rollups in terms of user activity.

This not only shows the growing popularity of this rollup but also a real demand for solutions that optimize Ethereum’s capabilities.

The success of Base also reflects a paradigm shift in how users perceive Layer 2 solutions: they are no longer mere extensions but essential players in the crypto ecosystem.

However, not everything is perfect yet. Base, despite its success, is still in a maturation phase.

At this stage, it lacks some crucial features to ensure total decentralization. In the absence of an anti-fraud system, users must trust developers to ensure transaction transparency.

But Coinbase has already anticipated these needs and plans to integrate fraud proofs in the next development phase, a move that should strengthen user security and confidence in the long term.

In parallel, Coinbase continues to assert its position by strengthening the integration of Base with the main Ethereum network. This interaction between the rollup and Ethereum ensures interoperability that opens up new perspectives.

By offering a solution that combines Ethereum’s security and Base’s scalability, Coinbase positions itself to attract DeFi protocols, dApps, and developers looking to capitalize on the efficiency of Layer 2 solutions.