Ethereum Layer 2 Network 'Base' Surpasses Arbitrum in Total Value Locked
Base has emerged as the largest Layer 2 rollup on the Ethereum network, boasting a total value locked (TVL) of $2.49 billion. This figure places Base among the top five blockchains by TVL, trailing only Ethereum, Tron, Solana, and BNB Chain.
The data, sourced from DeFiLlama, shows that Base has slightly surpassed Arbitrum, which currently holds a TVL of $2.39 billion.
A significant portion of Base’s total deposits originates from the decentralized exchange Aerodrome, which accounts for over $1.3 billion. The Layer 2 network, developed by Coinbase, employs an optimistic rollup mechanism utilizing the OP Stack to process transactions off the main Ethereum blockchain before committing data back to it.
In addition to its TVL, Base leads in user engagement, recording approximately 1.5 million daily active addresses. This level of activity is the highest among Layer 1 rollups, indicating strong user adoption and network utilization.
Recently, Base increased its block gas target from 10 to 13 Mgas/s to accommodate growing user activity, aligning with a broader strategy to expand network capacity.
These adjustments occur weekly, with a final goal of reaching 1 Ggas/s.
Despite its rapid growth, Base is still in the early stages of decentralization. Currently classified as an optimistic stage 0 rollup, it operates without a fraud-proof system.
Users must depend on the block proposer to submit accurate Layer 1 state roots, according to L2Beat. However, developers have outlined plans to incorporate fraud proofs into future updates.
