Base Shifts OP Mainnet in TVL, Becomes Largest Layer 2 Network in OP Stack-Based 'Superchain'

Bittime - Base, a Layer 2 Ethereum network developed by Coinbase, has quickly risen in the cryptocurrency landscape, surpassing OP Mainnet in total value locked (TVL) and becoming the largest network in the OP Stack-based 'Superchain'. This important milestone highlights Base's growing popularity and increasing user trust in its ecosystem.

Soaring TVL Base

According to DeFiLlama, Base's TVL has surged to $1.7 billion, marking a 20% increase since the start of May 2023. This impressive growth places Base among the top three Layer 2 networks, behind only Arbitrum, which holds $3.81 billion, and Blast , with $2.26 billion in TVL. This jump in value is an extraordinary achievement considering that the Base mainnet will only be available to the public in early August 2023.

Several factors contributed to Base's rapid rise:

• Decentralized Exchange Contribution : Aerodrome has significantly increased its TVL Base with $714 million in deposits. Uniswap followed with $312 million, further strengthening Base's position in the DeFi space.
• Layer 2 Rollup Mechanism : Base uses optimistic rollups, a technology that processes transactions off-chain and only periodically records them on the Ethereum mainnet. This method reduces congestion and increases transaction throughput, benefiting the entire Ethereum network.

Understanding 'Optimistic' in Rollups

The term 'optimistic' in these rollups refers to the assumption that all transactions are valid unless proven otherwise. Proof of fraud may be submitted if a transaction is suspected to be invalid, which will trigger a rollback of fraudulent activity. This mechanism differs from zero-knowledge rollups such as zkSync, Linea, and Scroll, which use cryptographic proofs to verify transactions upfront, providing a different approach to improving blockchain scalability and security.

Conclusion

Base's rise to become the largest Layer 2 network in the OP Stack-based Superchain underscores its significant impact on the crypto ecosystem. By efficiently handling more off-chain transactions and contributing to Ethereum's load reduction, Base showcases the progress in blockchain technology that is driving a more scalable and efficient decentralized future

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via over. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

To be able to buy crypto assets at over, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet.

For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Study Complete Guide How to Buy Crypto on Bittime.

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