In just over a year of development, Base has accounted for half of the transactions on the Ethereum Layer 2 chain. So why is Base growing so fast? Which leading projects among Base ecological projects are worthy of attention? (Previous summary: Base chain launched the ENS-based domain name service Basenames (base.eth), and BNS will gradually close) (Background supplement: Base chain has come from behind, can it challenge Solana’s meme currency throne?) For the development of Layer 2, in For quite a long time, everyone has focused on the dispute between the two technical routes of Optimistic Rollup (Op series) and Zero Knowledge Rollup (Zk series). Based on technical advantages, the market has screened out four leading Layer2s: Arbitrum, Optimism, Starknet and zkSync. With the launch of the Layer2 "Four Kings" mainnet and the circulation of tokens, the data on the chain is completely different. Looking back at the development of Base, in just over a year, it has accounted for half of the transactions on the Ethereum Layer 2 chain. So why is Base growing so fast? Which leading projects among Base ecological projects are worthy of attention? Occupying half of Layer 2, why is Base developing rapidly? Since late July, the daily transaction volume of the Base network has soared to a peak of more than 4 million. On July 27, the Base network hit a record high with 4.432 million intraday transactions. During the same period, Arbitrum had about 1.8 million daily transactions, Op Mainnet only had 470,000 transactions, and Ethereum mainnet’s daily transaction volume has remained around 1.1 million for most of this year. According to Defillama data, as of September 24, Base’s transaction volume hit another peak, reaching 4.44 million. It has only been just over a year since Base was born. Why has it developed so rapidly? Judging from the changing trends of TVL and user activity data, since the Base network adopted the new Cancun upgrade Blob data format in mid-March this year, the data on the chain has started to grow explosively. From the data point of view, the growth of Base and Ethernet The upgrade of Fang Cancun has a lot to do with it. The logic behind this is that the Ethereum Cancun upgrade has significantly reduced the handling fees for Layer 2 transactions, which has greatly improved its performance and is on par with many public chains. But why do other mainstream Layer 2 transaction volumes perform mediocrely?What are the other reasons for the substantial increase in transaction volume on the Base chain? Some popular products on Base have also successfully boosted the transaction volume on Base to continue to rise. Why do some high-quality products and projects appear on Base? Base will regularly launch some ecological incentive activities, Onchain Summer. The first phase of the activity was launched when the Base network was launched in August last year. The once popular social application Friend Tech broke out during this period. This year’s Onchain Summer event lasts for 3 months (June – August): the first month is mainly an ecological hackathon (Buildation) event to attract developers; the next two months are mainly to attract users and make increase. Base’s Onchain Summer offers over $2 million worth of 600 ETH in prizes, grants, and credits to participating Builders, users, and more. According to official information, the event attracted more than 7,500 developers, submitted more than 1,250 projects, and won about 80 award-winning projects. The products cover payment, social networking, games, creator tools, etc. Behind Base is Coinbase, which in addition to providing generous bonuses; as the first listed cryptocurrency exchange in the United States, Coinbase can also provide it with user resources and extensive financial resources. According to the official introduction, Base is closely integrated with Coinbase’s existing services. Users can access Base through the Coinbase platform and enjoy richer DeFi and Web3 applications. Overall, the support provided by Coinbase for Base is indeed rare in the encryption market, and this is what developers value more. What projects are worthy of attention in the Base ecosystem? There are already some leading projects in the Base ecosystem. In addition, a number of projects worthy of attention have also emerged in Base's recent Onchain Summer event. According to official information, the hackathon attracted the active participation of more than 7,500 builders, who jointly submitted more than 1,250 innovative projects, and ultimately 82 projects stood out after fierce competition. Due to its size, the bonus pool has been expanded from 200 ETH to 250 ETH. Farcaster Farcaster is a decentralized social network protocol. Farcaster’s two founders, Dan and Varun, both held important positions at Coinbase and have rich crypto market resources.In the early testing stage, founder Dan used his personal influence and relationships to invite many well-known OGs, including V God, to settle in. Farcaster founder Dan also developed a Warpcast application based on the Farcaster protocol, which currently accounts for 90% of the Farcaster protocol traffic. The overall architecture of Warpcast is similar to the traditional Web2 social software Twitter. Users can post tweets (cast), comment, retweet, and follow other users. In addition to social media functions similar to Twitter, Warpcast also introduces channels, actions and other functions, thus deriving more interactive methods. Farcaster had more than 100,000 daily active users at its peak in July this year, and it still maintains 70,000 daily active users. In May this year, Farcaster developer Merkle Manufactory announced the completion of a new round of financing, led by Paradigm, totaling $150 million, raising the company's valuation to $1 billion. BasedCoffee BasedCoffee is a Farcaster native application for crowdfunding and social activities, helping creators and builders on Farcaster easily obtain financial support from fans and users. Creators can use it standalone or integrate BasedCoffee into their existing Farcaster framework. Base Token Store Base Token Store supports the purchase of any token on Base by adding a shopping cart to the one-stop store. Users simply activate the smart wallet with a password, add tokens to their cart, and checkout using their Coinbase balance. Base T...