Base Overtakes Arbitrum as Top Ethereum L2

Base Surpasses Arbitrum as Leading Ethereum Scaling Solution

Coinbase's Base Layer-2 (L2) blockchain has achieved a significant milestone, transitioning from Stage 0 to Stage 1 rollup status and overtaking Arbitrum as the largest Ethereum scaling solution. This advancement is based on the maturity framework proposed by Ethereum co-founder Vitalik Buterin.

Base's Growth and Market Dominance

Data from L2Beat, a leading analytics platform for Ethereum L2 scaling solutions, confirms Base's new position. Following a $557 million surge in Total Value Locked (TVL), Base now boasts a margin of over $710 million in TVS compared to Arbitrum One.

This surge underscores Base's rapid growth and adoption within the Ethereum ecosystem. The leading protocol on Base L2 remains Aerodrome, with $830 million in TVL.

Stage 1 Rollup Status and Decentralization

The achievement of Stage 1 represents a crucial step towards decentralization. While Base still maintains a security council to address potential bugs, the transition to smart contract governance signifies a significant reduction in centralized control. This aligns with Vitalik Buterin's vision for more decentralized L2 rollups, effectively removing Base from his previously identified list of L2s at risk of failure unless they advanced.

"Proud that Base is now stage 1 — and #1 by TVS but it’s still day one. Time to bring the world on-chain," stated Base creator Jesse Pollak.

Arbitrum's Current Challenges

While Base celebrates its success, Arbitrum faces challenges. The network is recovering from an 80% crash and is employing strategies like token buybacks to regain market share. The recent rejection of Arbitrum's bid for the Nvidia accelerator program further highlights the network's current difficulties.

Despite these challenges, Arbitrum's ARB token has seen a 2% increase in the last 24 hours, trading at $0.33 at the time of writing.

Base's Future and Codeum's Role

Base's ascent highlights the dynamic nature of the Layer-2 landscape. As this space continues to evolve, robust security measures are paramount. Codeum, a blockchain security and development platform, plays a vital role in ensuring the security and integrity of projects like Base. Our services include:

• Smart contract audits
• KYC verification
• Custom smart contract and DApp development
• Tokenomics and security consultation
• Partnerships with launchpads and crypto agencies

Codeum is committed to building a safer and more secure blockchain ecosystem for all.

Disclaimer: This information is for educational purposes only and should not be considered financial advice. Always conduct thorough research before making any investment decisions.