Base Emerges as the Leading Layer 2 Solution for Blockchain Transactions
Friday, 3 May 2024, 21:33
Base Leads as Layer 2 Solutions, Says Coinbase CEO Brian Armstrong
Coinbase CEO Brian Armstrong has stated that Base now leads as the top Layer-2 solution by transaction volume.
Top Layer 2 Solution With the Highest Transaction Volume
- Base harnesses optimistic rollups to enhance transaction speed and reduce costs by batching transactions off the main Ethereum blockchain.
- Armstrong detailed the innovations driving this shift during the first-quarter earnings call on May 2, 2024.
- According to Armstrong, it reflects Coinbase's commitment to making crypto transactions as efficient and cost-effective as possible.
Significant Cost Reduction and USDC Integration
- The advancements in Base have led to an approximate 80% reduction in transaction fees, thanks to various protocol upgrades.
- Armstrong announced the integration of the US Dollar Coin (USDC) across all Coinbase products.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.