Coinbase, one of the world's largest cryptocurrency exchanges, recently announced the launch of its own layer-2 (L2) blockchain called Base. This blockchain is built on top of the Ethereum network and aims to provide faster and cheaper transactions for Coinbase's existing 110 million verified users across more than 100 countries, as well as attract new users to the platform.
Base is designed to be compatible with Ethereum, which means that developers can easily build decentralized applications (dApps) and on-chain products using existing tools and infrastructure. Base uses Proof of Stake (PoS) as its consensus mechanism that enables faster transaction confirmation times and reduces the energy consumption associated with traditional proof of work (PoW) blockchains.
Coinbase has created Base to provide a more efficient and scalable blockchain solution that can handle the growing demands of their users. By offering a compatible network with Ethereum, Coinbase aims to make dApps more accessible to their users, and in doing so, bring 1 billion+ users into the global cryptoeconomy, driving further adoption and growth in the industry.
The launch of Base is part of Coinbase's strategy to expand its product offerings and provide its users with a more comprehensive suite of blockchain-related products and services. Coinbase has already established itself as a trusted and reliable platform for buying, selling, and storing cryptocurrencies, and with the launch of Base, they are positioning itself as a leader in the development of blockchain infrastructure and applications.
Objective
The main purpose of this dashboard is to measure the early activity on Base Testnet, looking at average gas fees, transaction activities, and active addresses. In addition, we want to assess their engagement level and compare some of these metrics with the early activities of other Tesnet networks like Polygon, Arbitrum, and BSC.
Check out the dashboard!