Base, Coinbase's Layer-2 (L2) scaling solution, has achieved a major milestone with 1 million daily active addresses. Jesse Pollak, founder of the Base network, highlighted the rapid adoption of basenames, with over 200,000 registrations in less than a week.
Layer-2 networks like Base enhance blockchain scalability by improving transaction speed and cost efficiency while maintaining Ethereum's security and decentralization.
Surging Activity: Basename Registrations and Network Growth
What Are Basenames?
Basenames (or subnames) are on-chain identifiers that link human-readable names to wallet addresses within the Base ecosystem. Built on technology similar to Ethereum Name Service (ENS), they enable seamless interaction across EVM-compatible chains for transactions and decentralized applications (dApps).
"Base.eth subnames surpassed 200,000 registrations within a week of launch," noted an X user, echoing Pollak's announcement.
Key Metrics Highlighting Base's Expansion
- Daily transactions exceeded 4 million.
- Weekly transactions hit an all-time high of 29 million (per Dune Analytics).
- Total Value Locked (TVL) reached $1.59 billion, a 30% rebound from its monthly low (DeFiLlama).
👉 Discover how Base compares to other Layer-2 solutions
Competitive Landscape: Sony’s Soneium Enters the Fray
While Base thrives, Sony Block Solutions Labs plans to launch Soneium, another OP Stack-based L2 joining Optimism’s Superchain. Pollak welcomes the competition:
"A rising tide raises all boats. We’re excited to collaborate with innovators like Sony to onboard billions to the decentralized future."
FAQ: Understanding Base’s Growth
Q: How do basenames differ from ENS domains?
A: Basenames function similarly but are native to Base, offering cross-chain usability within the EVM ecosystem.
Q: What drives Base’s TVL growth?
A: Increased DeFi activity, user adoption, and capital inflow into protocols like Aerodrome and Uniswap.
Q: Will Soneium compete directly with Base?
A: Both leverage the OP Stack, but Base’s established ecosystem and Coinbase integration give it a first-mover advantage.
The Road Ahead for Base
With metrics signaling robust adoption, Base aims to cement its position as a leading L2. Its focus remains on:
- Scalability: Handling higher transaction volumes.
- Interoperability: Expanding Superchain collaborations.
- User Experience: Streamlining onboarding via basenames.
👉 Explore Base’s DeFi ecosystem
Note: All data is sourced from public analytics platforms. For investment decisions, conduct independent research.
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