CandleFocus Base Becomes Largest Ethereum Layer 2 with $2.5 Billion TVL
2024-10-17
Author: Content Editor
Base, Ethereum's Layer 2 scaling solution, has become the largest L2 network by Total Value Locked (TVL) with a record-high TVL of approximately $2.5 billion, according to DeFiLlama. Base, launched by Coinbase, aims to alleviate network congestion on the Ethereum mainnet by offering faster transactions and lower fees while maintaining security and decentralization. Base's impressive growth places it ahead of competitors like Arbitrum and Optimism, highlighting the increasing demand for scalable blockchain solutions within Ethereum's ecosystem. Aerodrome, a decentralized liquidity layer, contributes significantly to Base's TVL and is a crucial part of the platform's infrastructure. Base's rise reflects the demand for scalability solutions without compromising Ethereum's strengths, and it aligns with the broader trend of Ethereum scaling solutions gaining traction in response to high gas fees and delays.
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