On November 15, the Coinbase-backed Base network proudly announced that it has reached 1 billion transactions since its launch in August 2023. The milestone was reached in just one year, a remarkable achievement compared to established networks like Bitcoin, which took over 15 years to reach similar milestones.
Base’s rapid growth is no surprise. The network has quickly become the fastest-growing Ethereum Layer-2 solution, surpassing competitors like Optimism and Arbitrum. A recent report from CoinGecko ranked Base as the second most popular blockchain in 2024, and the network now attracts nine times more attention than its closest Layer-2 competitor, Arbitrum.
Market observers attribute the network’s rapid growth to the robust support and resources provided by Coinbase, the $76 billion crypto exchange that operates Base. Moreover, the strength of the Coinbase brand as the largest cryptocurrency exchange in the US has also undoubtedly contributed to Base’s success.
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