You are currently viewing Base: the layer-2 of Coinbase redefines the future of the blockchain

Base, layer-2 developed by the well-known Coinbase, emerges as one of the most performing platforms, offering innovative tools for the DeFi sector and on-chain applications.  

Base is an emerging platform in the blockchain landscape, designed to support the next generation of consumer applications. Based on the OP Stack, Base stands out for its high on-chain activity, the increase in active users, and a growing participation of developers.

Given the growing importance of this blockchain, Nansen has analyzed Base, Coinbase’s Layer 2 blockchain, highlighting its rapid development in the Web3 ecosystem.

Base: an ever-expanding ecosystem  

Base, developed through the OP Stack, is becoming a benchmark in the blockchain ecosystem thanks to its rapid growth and solid infrastructure. The platform, supported by Coinbase, offers an efficient environment for developers and users due to the combination of key features, such as a high number of on-chain transactions, constant increase in active users, high number of deployed smart contracts, and transaction speed superior to other L2 solutions.  

In particular, Base manages to handle an average speed of 85 transactions per second (TPS) with a block creation time of 2 seconds. Competing with other L2 solutions like Arbitrum, Base positions itself as the second platform for Total Value Locked (TVL), metrics that measure the overall value of funds held in DeFi protocols.

The Basic Technological Innovations  

The expansion of the Base ecosystem is supported by the introduction of new technologies that enhance performance and usability. Among the most significant innovations planned for the second quarter of 2024:  

Currently in the testing phase, Flashblocks will allow the reduction of transaction pre-confirmation time from 2 seconds to just 200 milliseconds. This will provide users with a better user experience, eliminating waiting times for the finalization of operations. This technology is set to become the fastest within the Ethereum Virtual Machine (EVM) environment, providing a fundamental competitive advantage for Base.  

Appchains: high-performance application launches  

Another innovation concerns the Base Appchains, which are L3 layers built on top of Base. These solutions allow the introduction of highly scalable blockchain applications and can benefit from more dedicated block space, optimizing operations, fee-free transactions, access to tools already available on Base, such as block explorers and smart accounts.  

Several projects have already started adopting Base’s appchains, including:  

Blackbird, a loyalty program for restaurants  

Farcade AI: AI-based gaming platform  

Slice: Protocol for digital trading  

Smart Wallet Sub Accounts: a new standard for cryptocurrency management  

The Base ecosystem is also implementing a new system for managing digital wallets. With Smart Wallet Sub Accounts, users will be able to make quick payments directly in fiat currency or cryptocurrencies, manage multiple accounts with a single universal access, set programmable spending limits to automate payments and subscriptions.

This new feature, scheduled for the second quarter, paves the way for new forms of onchain financial interaction, such as real-time payments based on mining blocks or subscription services without the need for manual operations.  

The best dApps and tokens on Base

Currently, Base does not have a native token, but several cryptocurrencies connected to its ecosystem are experiencing growing adoption and could represent interesting investment opportunities. Among the main assets linked to Base are:  

VIRTUAL (AI Agents) 

Expansion on Solana, increasing compatibility between ecosystems  

Protocol for onchain AI agents, improving interoperability  

Possible future listing on Coinbase, increasing the visibility of the project  

AERO (Memecoin and DeFi)

Commission collection program of 15 million dollars monthly  

Weekly volume on DEX equal to 3.6 billion dollars, surpassing Uniswap by over 2.5 times  

First in the ranking for TVL in the trading sector on Base  

Recently listed on Kraken and Coinbase, with strong support from smart investors  

CLANKER (Memecoin and SocialFi)  

New payment model for onchain creators, incentivizing content production  

Expected listing on Coinbase, increasing the liquidity of the token  

WELL (DeFi and Payments)  

Introduction of virtual accounts for simpler and more secure payments  

Listed on Coinbase, with greater exposure to investors  

These assets represent interesting entry points for those who wish to gain exposure to the Base ecosystem without a direct native token. Many of these projects are currently discounted compared to their historical highs, offering favorable entry opportunities.  

Base towards an on-chain future  

The prospects for Base remain extremely promising. With imminent technological innovations, a growing ecosystem, and greater integration with Coinbase, the platform will continue to expand.  

Two key factors will drive growth in the coming months:  

1. “Discounted” prices in the cryptocurrency market related to Base, creating buying opportunities.  

2. Technological developments expected for the second quarter of 2024, with revolutionary features such as Flashblocks and Smart Wallets.  

With Bitcoin still in a consolidation phase, investors’ attention will focus on the possibility of a bull trend in the Base ecosystem as soon as the market shows signs of recovery.  

If the market rally resumes, Base could emerge as one of the most dynamic and growing blockchain solutions of 2024.