Historical growth of the “Base” network:
Since the beginning of 2023, Coinbase’s Base network has recorded significant growth in Total Value Locked (TVL).
“Base” reached a historical high of the value locked at $1.784 billion, surpassing the $1 billion mark last March.
Comparison between “Base” and “Optimism”:
“Base” quickly overtook “Optimism” despite being the newest protocol in the layer 2 market.
Currently, Base has a locked value of $1.78 billion compared to Optimism's $878.62 million.
Major applications such as “Aerodrome” and “Uniswap” show a significant difference in TVL between “Base” and “Optimism”:
Aerodrome: It has $712 million in “Base” versus $147.01 million in “Optimism.”
Uniswap: It has $314 million in “Base” versus $73.97 million in “Optimism.”
The influence of the “OP Stack” extends to various protocols in the DeFi, gaming, and media fields, such as opBNB, Farcaster, and Zora Network.
These protocols have recorded significant growth over the past year.
However, despite its success, Base faces criticism regarding the emergence of short-lived currencies and activities that lead to network congestion.
The congestion sometimes brought the Coinbase ecosystem to a standstill.
There are security challenges in the OP Stack ecosystem, as evidenced by a recent attack on Sonne Finance that resulted in a $20 million exploit.
Future “Base” and “OP Stack”:
Base continues to lead in Layer 2 scaling solutions, but security challenges and network congestion highlight the need for continued improvements.
Security and efficiency must be enhanced to ensure sustainable growth at Base and continued expansion of the OP Stack ecosystem.
