Base, Coinbase's Layer 2 Ethereum network, has taken the lead among rollups. It has a total value locked (TVL) of $2.49B over 366 protocols, beating Arbitrum's current TVL of $2.39B.
The decentralized exchange Aerodrome contributes greatly to Base's TVL, as it holds around $1.3B in deposits. Base is presently the fifth-ranked blockchain network in TVL. It lags only large Layer 1 chains such as Ethereum, Tron, Solana, and the BNB Chain.
As an optimistic rollup, Base handles transactions that are not part of the main Ethereum chain. It periodically commits data to Ethereum. The network has the highest level of user activity, with over 1.5 million active addresses every day.
Base just increased its block gas target to keep up with surging activity. This action is in line with plans to steadily boost network capacity. The network aspires to achieve a final capacity of 1 Ggas/s.
Despite its explosive growth, Base is still in the early phases of decentralization. It lacks a fraud-proof system — it relies on block proposers to generate correct L1 state roots. However, developers have promised to include fraud proofs in future releases.
