The Layer 2 Ethereum network, Base, incubated by Coinbase, has seen remarkable growth in total value locked (TVL), reaching $1.7 billion. According to DeFiLlama, this represents a 20% increase since the beginning of May. This wave has propelled Base beyond OP Mainnet (OP) into TVL, making it the largest network within the Superchain ecosystem, which includes several Layer 2 rollups developed using the OP Stack software package.
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1 What determines the success of the basic network?
2 How do optimistic rollups compare to zkRollups?
3 Key learning points
What determines the success of the basic network?
Base opened to the public in early August 2023 and quickly grew to become TVL’s third most valuable Layer 2 network, behind only Arbitrum (ARB) with $3.81 billion and Blast with $2.26 billion. The rapid adoption and growing user confidence indicate the robust features and reliability of the network. Access NEWS LINK to receive the latest technology news.
A key factor contributing to Base’s TVL growth is its decentralized exchange Aerodrome, which has attracted $714 million in deposits. Another major contributor is Uniswap, with $312 million in deposits. These platforms have played an important role in attracting users and capital to the Base network.
How do optimistic rollups compare to zkRollups?
Layer 2 networks such as Arbitrum, Blast, Base, and OP Mainnet use optimistic rollups, perform off-chain transactions, and only periodically publish transaction data to the Ethereum Blockchain. This reduces the load on the main chain, allowing higher transaction throughput. The term “optimistic” means that transactions are considered valid unless a “proof of fraud” is submitted, which triggers verification.
Zero-knowledge rollups (zkRollups), such as zkSync, Linea, and Scroll, on the other hand, provide cryptographic proof of transaction validity in advance. These proofs ensure accuracy before transactions are published on-chain, and provide a new method to improve Ethereum’s scalability.
Key learning points
- Base Network’s TVL rose to $1.7 billion, up 20% since May.
- Decentralized exchanges such as Aerodrome and Uniswap have contributed significantly to this growth.
- Base is now the largest network within the Superchain ecosystem, surpassing OP Mainnet.
- Layer 2 solutions such as optimistic rollups and zkRollups are critical to Ethereum’s scalability.
As the Ethereum ecosystem continues to evolve, competition between bullish rollups and zkRollups is expected to drive further innovation and improvements in Blockchain scalability. This continued development highlights the importance of Layer 2 networks in tackling congestion and improving transaction efficiency on the main Ethereum Blockchain.