Base has emerged as the largest Layer 2 rollup on the Ethereum network, boasting a total value locked (TVL) of $2.49 billion.
Base has emerged as the largest Layer 2 rollup on the Ethereum network, boasting a total value locked (TVL) of $2.49 billion. This figure places Base among the top five blockchains by TVL, trailing only Ethereum, Tron, Solana, and BNB Chain.
The data, sourced from DeFiLlama, shows that Base has slightly surpassed Arbitrum, which currently holds a TVL of $2.39 billion.
A significant portion of Base’s total deposits originates from the decentralized exchange Aerodrome, which accounts for over $1.3 billion. The Layer 2 network, developed by Coinbase, employs an optimistic rollup mechanism utilizing the OP Stack to process transactions off the main Ethereum blockchain before committing data back to it.
In addition to its TVL, Base leads in user engagement, recording approximately 1.5 million daily active addresses. This level of activity is the highest among Layer 1 rollups, indicating strong user adoption and network utilization.
Recently, Base increased its block gas target from 10 to 13 Mgas/s to accommodate growing user activity, aligning with a broader strategy to expand network capacity.
These adjustments occur weekly, with a final goal of reaching 1 Ggas/s.
Despite its rapid growth, Base is still in the early stages of decentralization. Currently classified as an optimistic stage 0 rollup, it operates without a fraud-proof system.
Users must depend on the block proposer to submit accurate Layer 1 state roots, according to L2Beat. However, developers have outlined plans to incorporate fraud proofs into future updates.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
