How Base is scaling access to web3
Base is changing the game for L2s by enabling faster transactions with lower fees and higher throughput. In Q3 2024 alone, Base grew 31% in full-time developers, so let’s break down the factors driving Base’s impressive growth and its increasing adoption within the blockchain ecosystem.
What is Base?
Before Layer 2 (L2) networks appeared on Ethereum, users often had to deal with slow transaction speeds and costly gas prices.
Ethereum was not built with speed in mind, so when demand grew, the network often resembled a congested highway during rush hour when it was expensive to travel anywhere and traffic was slow.
Then, L2 blockchains appeared to address these challenges.
By building on top of Ethereum, L2s significantly reduced transaction costs and increased throughput without compromising the security and decentralization of the Ethereum network.
Base, however, is more than just another L2. It’s a leading network that combines Ethereum’s robust security with unique innovations to deliver a seamless, efficient, and accessible onchain experience. But more on that later.
Who created Base and why?
Base was developed by Coinbase, a leading cryptocurrency exchange with two main goals: to expand the application of decentralized finance (DeFi) and increase the accessibility of blockchain technology to a wider audience.
Ethereum’s scalability challenges, which are common across many blockchains, often result in slow transaction processing and unreasonably high fees. That is why Coinbase decided to close this gap and develop Base.
In 2024 alone, Base was the #1 Ethereum L2 by the number of developers in 2024 with 4,287 active developers. On top of that, Base was responsible for 42% of the new code written in the Ethereum ecosystem.
These numbers show the rapid adoption and growing influence of Base within the blockchain ecosystem.
How does Base differ from other L2s?
Because Base is integrated with Coinbase, developing decentralized apps is made easier through seamless access to Coinbase’s infrastructure, users, and tools. Base offers full Ethereum Virtual Machine (EVM) compatibility at a fraction of the cost while advancing a developer-friendly platform.
Base is designed to be decentralized, permissionless, and open to anyone, with a vision of creating a modular, rollup-agnostic Superchain powered by Optimism.
Unlike many other L2s that focus primarily on developers or specific niches like DeFi or gaming, Base is designed for a broader audience, including creators, artists, and non-technical users.
Besides, Base prioritizes integration within Ethereum’s ecosystem, allowing for smooth asset and data transfers across platforms, unlike some other L2s that operate as standalone systems.
In 2024, Base experienced remarkable growth, solidifying its position as a leading Ethereum L2 and a hub for developers and low-cost use cases. It was the most popular chain for EVM multi-chain deployers, with less than 10% of code shared with other EVMs, which means, base devs enjoy building on Base and stick with it.
Base also emerged as the #3 ecosystem in North America and India, following Ethereum and Solana. It captured 97% of NFT minting volume and ranked #2 by unique trading wallets, with 236,000 unique DEX wallets — the second highest after Solana.
Image source: 2024 Crypto Developer Report
And that’s why TAIKAI is on Base.
Base’s rapid growth and remarkable achievements make it a natural choice for TAIKAI.
By moving to Base, we’re aligning ourselves with a network that not only leads in innovation but also shares our vision for a decentralized and accessible future.
More than an Ethereum Layer 2 (L2), Base is a global community that provides a safe, affordable, and builder-friendly means for anybody, anywhere, to participate in the onchain ecosystem.
Just like TAIKAI, Base’s mission is to empower everyone to contribute to building a decentralized future — not just developers, but also creators, artists, writers, and anyone with a vision.
With this migration, we’re excited to join forces with a network that shares our commitment to accessibility and innovation. 🌱
You can read more about TAIKAI’s transition to Base here.
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