- Coinbase's Layer-2 network, Base, is competing with top #Layer-2 networks as its daily transaction volume recently surpassed Optimism and Arbitrum.
- On August 13, #Base recorded 617,330 transactions, surpassing the 544,575 on #Arbitrum and 438,559 on Optimism.
- Base has seen significant growth since its public launch on August 9, with an influx of memecoin and token creations, along with the launch of the friend.tech social network.
- Coinbase's Onchain Summer initiative has contributed to the popularity of Base, with projects like Coca-Cola launching a Masterpiece NFT collection on the network.
- Base's #daily transactions per second have improved to 7.69, and the total value of assets locked on the network has reached $229 million.
- However, Base has also gained a bad reputation due to several #scam projects on the network, with over 500 scam tokens attracting more than $3.7 million in trading volume.
- There have been instances of rug pulls and scams on Base, highlighting the need for caution and due diligence in the decentralized ecosystem.
