5 Fascinating Facts About Base You Need to Know

Base is the largest Layer 2 solution for Ethereum from Coinbase. Here are the five most fascinating facts about Base blockchain.

Base, a Layer 2 solution from Coinbase, leverages the Ethereum network to save costs while improving transaction speed, security, and accessibility. How does it work and what are the best features of Base? Continue to read to find out.

5 Fascinating Facts About Base You Need to Know

1: Base is the 6th biggest chain in terms of total value locked, with $1.59B TVL right after Arbitrum. Base is one of the top choices when it comes to EVM L2s.

2: The fact that Base is "owned" by Coinbase is heavily criticized as it's the sole sequencer on the Base network. Base does, however, have a plan for decentralization in the following years. Its governance and operations will eventually resemble Ethereum more closely.

3: Base uses Optimism's open-source OP Stack, joining the "Superchain" of interoperable L2s. This choice cuts costs and enhances security by tapping into the Optimism ecosystem. As part of the Superchain, Base benefits from shared security and seamless interoperability with other L2s.

Read more: What is the best crypto wallet?

4: Base uses ETH, not a native token, for all transactions. This choice simplifies the experience for newcomers, sticking with a familiar cryptocurrency. By avoiding a new token, Base aims to make DeFi and on-chain activities more accessible, easing the transition for users new to Layer 2 solutions.

5: Base is Coinbase's strategic entry into Layer 2, leveraging its vast user base and infrastructure. This integration offers direct fiat onramps, potentially lowering entry barriers for newcomers to crypto. By connecting to Coinbase's ecosystem, Base aims to simplify user access to Layer 2 through a trusted platform.

Conclusion

Base's unique approach—no token, Coinbase integration—sets it apart in Layer 2. It aims to provide a scalable, secure, user-friendly environment for both developers and users.

This strategy positions Base to potentially lead in onboarding millions of new users to blockchain technology. Explore Base tokens, NFTs and dApps with NuFi. Try our chrome extension.