Base, an Ethereum layer-2 network backed by Coinbase, has surpassed $8 billion in total value locked (TVL).

Base is now the second-largest scaler on Ethereum, only behind Arbitrum One.

The network has outperformed competitors like Arbitrum and Optimism in daily transactions and TVL.

Key factors for Base's success include the Dencun Upgrade, which reduced gas fees, and integration with decentralized exchange Aerodrome, bringing in $714 million in deposits.

Base continues to thrive despite challenges with phishing scams, leveraging fraud detection mechanisms to ensure transaction validity.

Coinbase has introduced a Smart Wallet product to streamline cryptocurrency usage, supporting networks such as Base, Ethereum, and Optimism.

While Base faces security vulnerabilities and regulatory issues, it remains a significant player in the blockchain ecosystem and Ethereum-based L2 solutions.

Base is projected to contribute to a $1 trillion market cap for Ethereum-based layer-2 solutions by 2023.