Roughly six weeks after its launch, Base, the Coinbase-backed Layer-2 scaling solution, now has the seventh most active bridge in terms of number of transactions. It surpassed Ethereum’s zkEVM bridges for Arbitrum and Polygon, which had 1,642 and 860 transactions, respectively. Although the increase in transactions for the Ethereum to Base bridge is significant, it is still lower than for the zkSync Era bridge. Currently, the zkSync Era bridge has processed 29,970 transactions, more than 14 times the number of those on the Ethereum to Base bridge.
The Stargate Bridge dominates the rankings
Stargate Bridge is ranked at the top of the table in terms of transactions processed. Indeed, it connects to several blockchains and Layer-2 platforms such as Solana, Polygon, Avalanche and BNB Chain. However, Base’s rise to power is remarkable. It is so given its competition with other established Layer-2 networks like Arbitrum and OP Mainnet (formerly Optimism).
- Stargate Bridge: Connects Solana, Polygon, Avalanche, and BNB Chain
- Arbitrum: Direct competitor to Base, with 1,642 transactions
- OP Mainnet (formerly Optimism): Another competitor to Base
Ethereum faces scaling challenges
Remember that Ethereum remains the most popular smart contract platform. Likewise, its native currency is second only to Bitcoin in value, and its base layer faces scaling issues. However, Layer-2 solutions have gained popularity as alternatives to address this problem. Indeed, according to L2Beat data, Arbitrum and OP Mainnet are currently the most popular general-purpose platforms in terms of protocol deployment in decentralized finance (DeFi).
Layer-2 Solutions: An Answer to Ethereum’s Scalability Issues
- Ethereum to Base bridge processes significant number of transactions
- Arbitrum and OP Mainnet are the most popular platforms for DeFi
The rise of layer-2 scaling solutions
The rapid success of Base demonstrates the growing interest in scaling solutions on Layer-2. In a relatively short period of time, the Base Layer-2 bridge was able to process more transactions than Arbitrum, one of the main established competitors.
The benefits of layer-2 scaling solutions
- Speed: Transactions are processed faster than on the Ethereum base layer
- Scalability: These solutions allow an increase in the number of transactions managed simultaneously
- Reduced fees: Transaction costs often lower than with traditional solutions
The rapid completion of Base also shows that the market for Layer-2 solutions remains evolving. This also assumes that other competitors could still emerge with new innovative and efficient products.
Promising results for the Base Layer-2 bridge
The success of the Base Layer-2 bridge just weeks after its launch is an encouraging sign for the future of this project. Thus, the ability to process so many transactions in a short time indicates that this solution could be a real alternative to other already established Layer-2 solutions such as Arbitrum and OP Mainnet. Support from Coinbase also provides a competitive advantage to Base, building confidence in its security and reliability.
The importance of Coinbase support
- Coinbase support adds credibility to Base
- Base Layer-2 Bridge Strengthens Security and Reliability with Support from Coinbase
In conclusion, the Base Layer-2 bridge shows promising results in terms of the number of transactions processed. It therefore seems well on its way to becoming a viable alternative solution to deal with Ethereum’s scalability problems. The rapid growth of the project also reflects the growing interest in scaling solutions on Layer-2.
