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\t\t\t\t\t\t\t\tPosted: September 17, 2023 The Ethereum [ETH]<\/a> layer-2 (L2) landscape has been buzzing with activity in 2023. The rapid expansion of the existing projects and the launch of several new ones has garnered a lot of interest from the broader crypto industry.<\/p>\n A major boost to the already crowded space was received with the launch of Base<\/a>, the scaling solution launched by crypto behemoth Coinbase<\/a>. The vision<\/a> was to create a platform that would host millions of cutting-edge decentralized apps (dApps) and take Web3 adoption to the next level.<\/p>\n More than a month since the mainnet launch, Base has done full justice to the hype and one could safely say that it has exceeded expectations.<\/p>\n According to the popular on-chain analytics firm IntoTheBlock<\/a>, Base\u2019s on-chain activity has exploded, outpacing even the established names like OP Mainnet [OP]<\/a>\u00a0and\u00a0Arbitrum [ARB]<\/a>.<\/p>\n In just 2 months, Coinbase’s Base L2 has skyrocketed, topping the charts in transactions and unique addresses. Much of this growth is fueled by the new social app, FriendTech. pic.twitter.com\/CdVrTcFqot<\/a><\/p>\n \u2014 IntoTheBlock (@intotheblock) September 16, 2023<\/a><\/p>\n<\/blockquote>\n Over the past week, Base has been steadily recording more transactions than any other L2 in operation. In fact, a closer look revealed that Base\u2019s tally was significantly higher than the top two rollups in the space. On 14 September, Base recorded 1.88 million successful transfers, more than the combined tally of OP mainnet and Arbitrum.<\/p>\n Base also clocked its highest transaction throughput on 14 September with an average transactions per second (TPS) of 21.29, as per L2Beat. While efficiency has fallen somewhat since the peak, Base still retained its position as the fastest L2.<\/p>\n For perspective, Base\u2019s TPS increased by 227% in the last week. In contrast, most of the other top L2s saw weekly declines in throughput.<\/p>\n Source: L2Beat<\/p>\n<\/div>\n Base\u2019s dominance among the optimistic category of rollups was also noteworthy. As per IntoTheBlock, Base averaged approximately 888k daily active addresses over the last month, accounting for a whopping 60% of all addresses that used optimistic rollups in the same timeframe.<\/p>\n Base\u2019s obvious advantages in transaction settlement attracted a lot of projects into its fold. In little more than a month, the total value locked (TVL) on the L2 has risen to $386 million as of this writing.<\/p>\n Source: L2Beat<\/p>\n<\/div>\n The primary driver behind Base\u2019s growing on-chain traffic was the decentralized social app, Friend.tech<\/a>. The disruptive protocol has taken the online world by storm since its launch in early August.<\/p>\n For the uninitiated, Friend.tech allows users to make money from the popularity, credibility, and social value of creators and influencers. Users buy and sell shares or keys of their friend\u2019s X profiles. The shares then rise and fall depending on the popular sentiment. Additionally, when a person\u2019s shares are bought and sold, they earn 50% of the trading fees. Cool, ain\u2019t it?<\/p>\n The unique model has also attracted people in droves. According to DeFiLlama, liquidity worth $32.89 million was locked on the protocol at the time of writing, representing a 6x jump month-to-date (MTD).<\/p>\n
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Base\u2019s remarkable growth<\/h4>\n
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Base races past competition<\/h4>\n
![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Base-TPS.jpg\")
<\/a><\/p>\n![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Base-TVL.jpg\")
<\/a><\/p>\nThe friendly push<\/h4>\n
![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Friend.tech_.jpg\")