As an experienced analyst, I’ve followed the development of various Layer 2 solutions on Ethereum closely. The recent surge in adoption and growth of Base, Coinbase’s Layer 2 network, is a testament to its innovative approach and efficiency.
Coinbase’s Ethereum Layer 2 network, Base, has surpassed other chains in the Superchain system to claim the top spot, with a total value locked (TVL) of $1.7 billion. This marks a significant 20% increase since May. As a result, Base now outranks OP Mainnet in terms of TVL.
Layer 2 Growth Highlights Innovation and Efficiency
Based on the most current DeFiLlama statistics, Base now leads OP Mainnet and ranks among the top three Layer 2 networks by total value locked (TVL), occupying the second position behind Arbitrum and Blast with deposits worth $3.81 billion and $2.26 billion respectively.
The expansion of these holdings can be attributed to significant investments from prominent decentralized platforms such as Aerodrome and Uniswap, which manage deposits worth $714 million and $312 million respectively. By employing optimistic rollups, these networks increase Ethereum’s capacity by processing transactions off-chain and validating them on-chain when necessary.
As a researcher studying this system, I’d describe it as follows: In contrast to zero-knowledge rollups that proactively apply security checks, this system assumes transactions are genuine until proven otherwise through rigorous fraud-proofing methods.
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2024-06-07 22:15