On November 15, the Coinbase-powered Base Network proudly announced that it has reached 1 billion transactions since its launch in August 2023. The milestone was achieved in just one year, a remarkable achievement compared to established networks such as Bitcoin, which took more than 15 years to complete. achieve similar milestones.
Base’s rapid growth is no surprise. The network has quickly become the fastest growing Ethereum Layer-2 solution, surpassing competitors such as 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 nearest 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 Base operates. Additionally, the strength of the Coinbase brand as the largest cryptocurrency exchange in the US has undoubtedly contributed to Base’s success as well.
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