Ethereum Layer 2 network \u201cBase\u201d has surpassed Cardano in terms of Total Value Locked (TVL) in just two weeks after its official launch, despite Cardano experiencing a multi-year head start in growth and development.\u00a0<\/p>\n
Presently, Cardano is facing criticism from users due to its TVL falling<\/a> below that of the newly launched project \u201cBase\u201d built by Coinbase. One individual who has publicly criticized the project is Evan Van Ness, a Consensys member and Ethereum advocate.<\/p>\n Van Ness took to his X (formerly Twitter) account which boasts over 103,000 followers to call<\/a> Cardano a \u201cZombie chain<\/a>\u201d because it was below Base by TVL despite being years ahead of the latter.<\/p>\n Base was launched on August 9 and it has experienced impressive growth and momentum since it was introduced to the public. According to Data from DeFillama<\/a>, the layer 2 network Base recorded a higher trading volume ($26.23 million) than that of the layer 1 network Cardano ($20 million) in less than 24 hours after its official launch.\u00a0<\/p>\n In terms of TVL, at the time Van Ness\u2019s chart was shared on X, Base had managed to secure $188 million in TVL since it was introduced, surpassing Cardano which sat at the 14th position by TVL with $160 million.<\/p>\n However, these figures have since been flipped especially since ADA<\/a> is seeing a green day on Saturday. DefiLlama data currently shows a TVL of $188.46 million for Cardano versus $185.53 million for Base.<\/p>\n\n Nevertheless, data from L2beat<\/a> points Base\u2019s rise in TVL over the past week puts it ahead of StarkNet and others which made it the fifth largest layer-2 network.\u00a0<\/p>\n Base TVL is, however, not the only impressive thing about the L2, as the network has outperformed Cardano by completing more transactions in its first week than Cardano\u2019s transactions in a month.\u00a0<\/p>\n Although Base\u2019s TPS may be lower than that of other layer 2 networks like Optimism (OP), investors and market observers believe that the network will experience more adoption as its ecosystem grows.<\/p>\n Base has recorded over 11 million transactions in less than a month since its official launch. Base\u2019s average transactions per second over the past few days has been reported to be 15.88, surpassing other layer 2 blockchain Abritrum (AB) and Optimism (OP). The network\u2019s 15.88 also shows an increase of almost 160% in daily Transactions Per Second<\/a> (TPS).\u00a0<\/p>\n Base\u2019s TPS rise was no coincidence as more investors engage in Base\u2019s Friend.tech. Friend.tech<\/a> is a social market that allows users to buy and sell shares in public figures. It has reportedly garnered more than 100,000 users since its release.<\/p>\n Other protocols such as Synthenix have also shown interest in the Base network, as the protocol recently concluded a governance vote<\/a> to deploy on Base. Another development is the on-chain analytics firm Arkham Intelligence announcing on X<\/a> earlier in the week that it will be adding support for Base.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Ethereum Layer 2 network \u201cBase\u201d has surpassed Cardano in terms of Total Value Locked (TVL) in just two weeks after its official launch, despite Cardano experiencing a multi-year head start in growth and development.\u00a0<\/p>\n Presently, Cardano is facing criticism from users due to its TVL falling<\/a> below that of the newly launched project \u201cBase\u201d built by Coinbase. One individual who has publicly criticized the project is Evan Van Ness, a Consensys member and Ethereum advocate.<\/p>\n Van Ness took to his X (formerly Twitter) account which boasts over 103,000 followers to call<\/a> Cardano a \u201cZombie chain<\/a>\u201d because it was below Base by TVL despite being years ahead of the latter.<\/p>\n Base was launched on August 9 and it has experienced impressive growth and momentum since it was introduced to the public. According to Data from DeFillama<\/a>, the layer 2 network Base recorded a higher trading volume ($26.23 million) than that of the layer 1 network Cardano ($20 million) in less than 24 hours after its official launch.\u00a0<\/p>\n In terms of TVL, at the time Van Ness\u2019s chart was shared on X, Base had managed to secure $188 million in TVL since it was introduced, surpassing Cardano which sat at the 14th position by TVL with $160 million.<\/p>\n However, these figures have since been flipped especially since ADA<\/a> is seeing a green day on Saturday. DefiLlama data currently shows a TVL of $188.46 million for Cardano versus $185.53 million for Base.<\/p>\n Nevertheless, data from L2beat<\/a> points Base\u2019s rise in TVL over the past week puts it ahead of StarkNet and others which made it the fifth largest layer-2 network.\u00a0<\/p>\n Base TVL is, however, not the only impressive thing about the L2, as the network has outperformed Cardano by completing more transactions in its first week than Cardano\u2019s transactions in a month.\u00a0<\/p>\n Although Base\u2019s TPS may be lower than that of other layer 2 networks like Optimism (OP), investors and market observers believe that the network will experience more adoption as its ecosystem grows.<\/p>\n Base has recorded over 11 million transactions in less than a month since its official launch. Base\u2019s average transactions per second over the past few days has been reported to be 15.88, surpassing other layer 2 blockchain Abritrum (AB) and Optimism (OP). The network\u2019s 15.88 also shows an increase of almost 160% in daily Transactions Per Second<\/a> (TPS).\u00a0<\/p>\n Base\u2019s TPS rise was no coincidence as more investors engage in Base\u2019s Friend.tech. Friend.tech<\/a> is a social market that allows users to buy and sell shares in public figures. It has reportedly garnered more than 100,000 users since its release.<\/p>\n Other protocols such as Synthenix have also shown interest in the Base network, as the protocol recently concluded a governance vote<\/a> to deploy on Base. Another development is the on-chain analytics firm Arkham Intelligence announcing on X<\/a> earlier in the week that it will be adding support for Base.<\/p>\n <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-28780","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28780","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=28780"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28780\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28780"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Rising Average Transactions Per Second<\/h2>\n
Base TVL And Trading Volume Rises Above Cardano<\/h2>\n
Rising Average Transactions Per Second<\/h2>\n