[Base network surpasses OP main network]
Base, which was opened to the public in early August 2023, quickly rose to become the third largest Layer 2 network after Arbitrum (ARB) and Blast, with total value locked (TVL) of US$3.81 billion and US$2.26 billion respectively. Rapid adoption and growing user confidence demonstrate the network's power and reliability. Visit NEWSLINKER for the latest technology news.
A key factor in Base TVL’s growth is decentralized exchange Aerodrome, which attracted $714 million in deposits. Another major contributor is Uniswap, with $312 million in deposits. These platforms play an important role in attracting users and capital to the Base Network.
Layer 2 networks like Arbitrum, Blast, Base, and OP Mainnet leverage Optimistic Rollups to execute transactions off-chain and publish transaction data only periodically on the Ethereum blockchain. This reduces the burden on the main chain, allowing for higher transaction throughput. The word "optimistic" means that the transaction is assumed to be valid unless a "proof of fraud" is submitted, triggering verification.
In contrast, ZK-Rollups such as zkSync, Linea, and Scroll provide cryptographic proof of transaction validity. These proofs guarantee accuracy before a transaction is on-chain, providing another way to improve Ethereum’s scalable functionality.
Base network TVL soared to $1.7 billion, up 20% since May. Decentralized exchanges such as Aerodrome and Uniswap have significantly contributed to this growth. Base is now the largest network in the Superchain ecosystem, surpassing OP Mainnet.
Layer 2 solutions like Optimistic Rollups and ZK-Rollups are critical to Ethereum’s scalable functionality. As the Ethereum ecosystem continues to evolve, the competition between Optimistic Rollups and ZK-Rollups is expected to drive further innovation and improvements in the blockchain’s scalable functionality. This continued development underscores the importance of Layer 2 networks in resolving congestion and improving transaction efficiency on the main Ethereum blockchain.
