Base chain, backed by Coinbase, with precise technology selection and differentiated ecosystem construction, has already established itself as the king of Ethereum Layer 2 without issuing tokens. This article will quickly guide you through the secrets of Base chain's rise, analyze the current state of the Layer 2 track, and share current airdrop opportunities you can't miss!
It's incredible, has Base chain surpassed the "Four Heavenly Kings" chains? And it hasn't even issued tokens! What does this mean? Today, we focus on Base chain and first look at several data points from October 31:
Whether it's TVL (Total Value Locked), 24-hour trading volume, 24-hour revenue, or weekly active users, Base public chain almost firmly sits on the throne of Ethereum Layer 2!
Web3 Encyclopedia: What is Layer 2?
In the blockchain world, a main chain like Ethereum (Layer 1) is like a major highway, carrying a large volume of transaction demand. However, as more and more people use the road, "congestion" occurs, leading to high transaction fees and slow speeds. Thus, the Web3 world introduced "Layer 2" solutions to alleviate this.
Layer 2 is like a "fast lane" next to this major highway, where most transactions can be completed, and then the transaction results are sent back to the main chain for confirmation. This both increases transaction speed and reduces costs.
Currently, there are two common Layer 2 technologies: OP Stack (Optimistic Rollup) and ZK Rollup (Zero-Knowledge Rollup). Arbitrum, Optimism, and Base chain use OP Stack, while zkSync and StarkNet use ZK Rollup.
So, what has Base chain done right to rapidly rise after its establishment in 2023 and become the "Fifth King"?
Is it because of its mother Coinbase listed on NASDAQ, its strong data without issuing tokens, its correct route selection, or its well-developed ecosystem? Yes, all of these are correct.
Strong support from Coinbase
The launch of Base benefits from Coinbase's strong endorsement, directly targeting global users. With Coinbase's brand and resources, Base not only gained user trust but also attracted a large number of developers. Especially the integration with Coinbase allows users to easily transfer assets from Coinbase wallet to Base chain, greatly lowering the usage threshold.
Technical choice - Based on Optimism's OP Stack
Base chose Optimism's OP Stack as its underlying technology, solving scalability and efficiency issues. OP Stack provides developers with a familiar toolchain and development environment, significantly shortening project launch times and laying the foundation for rapid ecosystem expansion.
Seizing the market opportunity
Base's launch timing is very clever, entering the market as Layer 2 demand rises and ETH faces high gas fee pressures, becoming an ideal low-cost and efficient alternative for users. As Layer 2 solutions like ARB and OP gradually encounter growth bottlenecks, the emergence of Base offers a new choice.
Airdrop expectations without issuing tokens drive user interaction
Although Base chain has not issued tokens, the market is full of expectations for its potential airdrop, which encourages users to actively participate in ecosystem interactions and boosts the activity of Base chain. Using the "airdrop expectation" strategy to increase user stickiness, Base has made a very smart move.
Differentiated ecosystem construction
Base focuses on user experience in its ecosystem choices, supporting projects that can attract new users, such as social media, domain names, wallets, etc., rather than just traditional DeFi.
Actively embracing meme culture
Another secret to Base chain's success is its active embrace of meme culture, becoming a "hotbed" for many meme coins. Through the vibrancy of meme coins, Base chain not only attracts a large number of young users but also makes the ecosystem more lively and interesting.
Now let's take a look at the current state of the Four Heavenly Kings
The once-glorious Four Heavenly Kings, ARB, OP, ZK Rollup, and StarkNet, now show slightly diminished performance. Especially ZK Rollup, despite being widely regarded, has underperformed in reality. I personally had high expectations for ZK Rollup and invested a significant amount of money, but now I face substantial losses. So I advise everyone to invest cautiously; any cryptocurrency carries the risk of going to zero.
However, airdrops are another matter. As long as you find excellent projects, participate early, and interact, you can gain early opportunities in the "primary market" at almost zero cost and access high-quality Web3 projects.
So how can we not miss the airdrop opportunities of Base chain?
Let me briefly introduce a few projects we will interact with today. The official domain project Basename and Base wallet, followed by the decentralized social media Farcaster, which is also worth experiencing. Finally, there's the DeFi project Aerodrome, a decentralized exchange that occupies a significant portion of Base chain's trading volume and locked value.
Alright, let's get started!!