Ethereum co-founder Vitalik Buterin has lauded Coinbase's Base network, recognizing it as a pivotal benchmark for Layer 2 scaling solutions. His rare public praise highlights Base's unique ability to blend practical usability with the robust security guarantees of Ethereum, setting a new standard for decentralized applications.
Base: A New Standard for Secure Usability
Buterin's endorsement stems from Base's ingenious design, which balances speed and user experience with deep integration into Ethereum's trust model. He emphasizes that despite employing some centralized mechanisms for efficiency, Base distinctly avoids custodial control over user funds. Withdrawals and asset safety remain firmly tethered to Ethereum's underlying infrastructure. This architecture qualifies Base as an L2Beat Stage 1 solution, meaning that even in the event of a network outage, users retain the right to reclaim their assets. This "non-custodial" approach, according to Buterin, isn't mere branding; it's a technical reality where Ethereum's smart contract logic inherently prevents operators from misusing funds or blocking withdrawals, solidifying Base as a true extension of Ethereum's security.
Explosive Growth and Market Presence
Buterin's commendation arrives as Base demonstrates remarkable growth, solidifying its position as a dominant force in the Layer 2 landscape. The network currently processes an impressive 160 transactions per second, amounting to hundreds of millions of transactions monthly. Furthermore, Base's Total Value Locked (TVL) has surged to nearly $15 billion, placing it second only to Arbitrum among L2s. Much of this rapid expansion is attributed to the strategic backing of Coinbase. The leading US-based crypto exchange not only provides substantial technical support but also extends its significant brand credibility, fostering widespread adoption and firmly establishing Base as a leading contender in the ongoing Layer 2 "arms race."
