Logll Tech News โ Coinbase’s venture into the world of layer 2 blockchains has swiftly gained momentum, with an impressive feat that has sent ripples through the cryptocurrency realm. ๐
Breaking Records: Surpassing 100,000 Daily Active Users on Coinbase’s Base ๐
In a groundbreaking stride, Coinbase’s layer 2 blockchain has shattered expectations by garnering over 100,000 daily active users for the very first time. This remarkable achievement comes hot on the heels of the network’s official launch, underscoring its immediate impact and resonance within the crypto community. ๐ฅ
it's onchain summer on Dune ๐ก@BuildOnBase data is integrated into Dune! pic.twitter.com/MuVFd6glJR
— Dune (@DuneAnalytics) August 9, 2023
Dune Analytics Presents Astonishing Figures for Base ๐
As of August 10, a staggering 136,000 daily users have been recorded on Coinbase’s layer 2 blockchain. This figure marks the zenith of the network’s short but impactful history, coinciding intriguingly with the second day since its public release. The resonance of this accomplishment reverberates further as we dive into the specifics of these numbers. ๐
A Flourish of Newcomers on August 10 to Coinbase’s Base ๐
August 10 witnessed an influx of users, a testament to the network’s allure and accessibility. Of the daily users on this significant day, a substantial 30% were new Base users, culminating at an impressive count of nearly 42,000. It’s worth noting that a prior record of over 60,000 users was established on July 31, further accentuating the network’s burgeoning popularity. ๐
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CryptoRank’s Insightful Revelation for Base ๐ก
The cryptocurrency landscape received further illumination through CryptoRank’s discerning analysis. On August 10, CryptoRank’s X post highlighted that Base now claims the fourth spot in terms of daily transactions per second among layer 2 solutions. This places Base in esteemed company, trailing behind zkSync Era, Arbitrum, and Optimism. ๐
Base Now Ranks 4th in Daily TPS Among Layer 2 Solutions ๐ต#Base Layer 2 launched its mainnet yesterday and is showing robust growth in active users and transactions. Now it ranks 4th by daily TPS (Transaction per second). pic.twitter.com/pnYF0tk7b0
— CryptoRank Platform (@CryptoRank_io) August 10, 2023
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The Genesis of Coinbase’s Base Network ๐
August 9 marked the official launch of Coinbase’s Base network after a strategic period of being open exclusively to builders. This momentous occasion, coined as the inception of the “Onchain Summer,” has set the stage for a new era in the world of decentralized protocols. ๐
From Beta to Full Throttle on Coinbase’s Base ๐๐จ
Base initially saw the light of day in its beta version on February 23, generating excitement and anticipation within the crypto sphere. The network’s potential to onboard a wider user base into the realm of Web3 protocols became a hot topic of discussion, riding on the coattails of Coinbase’s extensive user reach. ๐
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Unveiling the Mainnet: A Cautionary Tale for Base โ ๏ธ
The network’s mainnet version for builders emerged on July 13, although the development team emphasized its readiness for builders rather than end-users. This strategic move showcases Coinbase’s commitment to fostering a robust and seamless user experience. ๐ ๏ธ
Empowering Base Users ๐ช
Presently, Base users enjoy a multifaceted array of functionalities. This includes the capability to bridge Ether (ETH) to Base, active engagement with a decentralized cryptocurrency exchange, executing payments through a web-based app, securing a unique “.base” username, and even embarking on the journey of launching a decentralized autonomous organization (DAO). ๐ผ
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The Future Unfolds: A Beacon of Possibilities for Base ๐
As Coinbase’s layer 2 blockchain continues to make waves, the trajectory it follows remains an open question. Will it continue to redefine the landscape, ushering in new paradigms for user engagement and decentralized frameworks? One thing is certain; its journey has only just begun. ๐
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Sergio Richi
Editor, Logll Tech News