BASE BLOCKCHAIN ANALYSIS (2024)

    Base is an Ethereum Layer 2 (L2) scaling solution developed by Coinbase. It is built on the Optimism stack, which uses optimistic rollups to achieve faster and cheaper transactions while inheriting the security of the Ethereum mainnet. Base blockchain was officially launched on August 9, 2023. This launch followed an initial testnet phase that began earlier in 2023, allowing developers to build and test applications on the network before its full public release. The launch marked Coinbase's entry into the Layer 2 space, with the goal of making decentralized applications more accessible to a broader audience by offering lower transaction costs and improved scalability on the Ethereum network

    DAILY STATISTIC OVER THE YEAR
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    Total transactions and unique addresses were relatively steady from the start of the year until March 13th, when a significant spike in user activity occurred on the Base blockchain. The chart highlights the surge in daily transactions, indicating that user interest in Base has grown substantially. This increased activity suggests a rising enthusiasm and engagement with the blockchain, as more users participate in its ecosystem. The sharp rise in transactions reflects the growing appeal and adoption of Base, signaling its potential as a key player in the blockchain space.

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    WEEKLY STATISTIC OVER THE YEAR(2024)

    Weekly transaction also shows a surge in transaction from the first week of march then reaching it all time high on August 19. Active User participation on base is a testament to the lower transaction fee provided by the blockchain and great transaction per second which is the key factor i scaling ethereum.

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