Coinbase’s layer 2 blockchain network, Base, has experienced a significant increase in its daily active users, surpassing 100,000 for the first time. Just one day after its official launch, Dune Analytics figures from August 10 show that Base has attracted over 136,000 users, marking its highest daily user count since its inception. This surge in users coincides with the network’s second day of public release.

Of the daily users on August 10, approximately 30% were new Base users, totaling nearly 42,000 individuals. However, the record for the highest number of new users in a day stands at over 60,000 on July 31. Crypto market data platform, CryptoRank, revealed in an August 10 tweet that Base currently ranks fourth in daily transactions per second among layer 2 solutions, following zkSync Era, Arbitrum, and Optimism.

A Promising Start for Base

The official launch of Coinbase’s Base network on August 9 marked the beginning of what it calls “Onchain Summer.” Base was initially introduced in beta version on February 23, and its potential to onboard more users into Web3 protocols due to Coinbase’s extensive user base generated significant speculation within the crypto community. A mainnet version tailored for builders was launched on July 13, with a caution that it was not yet user-ready.

Presently, Base users can bridge Ether (ETH) to the platform, utilize a decentralized cryptocurrency exchange, make payments with a web-based app, register a “.base” username, or establish a decentralized autonomous organization.

Summary:

Coinbase’s layer-2 blockchain network, Base, has recorded over 136,000 daily active users just a day after its official launch. This marks the highest daily user count in the network’s history. Additionally, Base currently ranks fourth in daily transactions per second among layer 2 solutions. The network’s promising start has been fueled by its ability to attract new users and its range of features, including a decentralized exchange and a web-based app for payments.

FAQs:

What is Coinbase’s Base network?

Coinbase’s Base network is a layer-2 blockchain solution that aims to enhance scalability and efficiency in cryptocurrency transactions.

How many daily active users does Base have?

Base recorded over 136,000 daily active users, its highest count so far, just one day after its official launch.

What features does Base offer to users?

Base allows users to bridge Ether (ETH) to the network, engage with a decentralized cryptocurrency exchange, make payments using a web-based app, register a “.base” username, and launch decentralized autonomous organizations.

How does Base compare to other layer 2 solutions?

According to CryptoRank, Base currently ranks fourth in daily transactions per second among layer 2 solutions, trailing behind zkSync Era, Arbitrum, and Optimism.