Coinbase’s Base network achieves remarkable milestone with more than 136,000 daily active users on its layer-2 blockchain, just one day after the official launch on August 9. Around 30% of these users were newcomers to the blockchain space.
Daily active users on Base. Source: Dune
In a significant development, Coinbase’s layer-2 blockchain network, Base, has garnered substantial attention by surpassing 136,000 daily active users on August 10, marking a record high in its brief operational history. Impressively, this surge occurred only on the network’s second day of public availability. Notably, nearly 30% of the user base on August 10 consisted of individuals new to Base’s platform, demonstrating its appeal to a wide audience.
Fast Adoption and Promising Rankings in the Layer-2 Landscape
Base’s rapid adoption is further underscored by the fact that over 42,000 new users embraced the platform on August 10 alone. While this figure fell short of the record-breaking 60,000 new users on July 31, it nonetheless signifies an impressive influx of interest. Additionally, recent data from CryptoRank’s August 10 report reveals that Base has secured an impressive fourth position in daily transactions per second within the layer 2 solutions realm, trailing only zkSync Era, Arbitrum, and Optimism.
From Beta to Full Launch: Base’s Evolution
The journey of Base dates back to its beta version launch on February 23. Anticipation surrounding its potential to onboard users into Web3 protocols was evident from the outset, given Coinbase’s substantial existing user base. Although the network’s mainnet version “for builders” was introduced on July 13, it was accompanied by a cautionary note, advising that it wasn’t yet fully prepared for widespread user engagement.
Base Now Ranks 4th in Daily TPS Among Layer 2 Solutions 🔵#Base Layer 2 launched its mainnet yesterday and is showing robust growth in active users and transactions. Now it ranks 4th by daily TPS (Transaction per second). pic.twitter.com/pnYF0tk7b0
— CryptoRank Platform (@CryptoRank_io) August 10, 2023
Diverse Capabilities and Path Ahead
Base users currently enjoy a range of functionalities, including Ether bridging, participation in a decentralized cryptocurrency exchange, seamless payments via a web-based application, registration of a unique “.base” username, and the opportunity to initiate a decentralized autonomous organization. As Base continues to gain momentum and offer diverse utility, it stands poised to play an increasingly pivotal role in the evolving landscape of blockchain and decentralized technologies.
Coinbase’s Base network has experienced an extraordinary surge in daily active users, surpassing 136,000 just one day after its official launch. This achievement, coupled with its competitive ranking in layer 2 solutions and diverse set of capabilities, positions Base as a significant player in the blockchain ecosystem’s ongoing transformation.