Base Season – how an L2 is gaining massive traction in the ecosystem

In the ever growing Ethereum L2 ecosystem, a new contender rises with Base. It primarily aims to enhance transaction speed and capacity while lowering costs. It achieves this by processing transactions in batches off of the main blockchain. Afterwards, it sends them to the main chain for settlement, leading to faster and cheaper transactions. 

Additionally, Base inherits the security of its underlying blockchain. Being full EVM compatible, it supports smart contracts, and often promotes better interoperability between different blockchains. 

The overall user experience on services supporting Base is improved due to the increased efficiency and reduced fees. Despite this big plus, decentralisation isn’t yet fully achieved with this system, with Coinbase, Base’s creator, running the sequencers that bundle transactions – the goal is to offboard this to third parties in due course.

Despite this, the trust that this new L2 will deliver is high. Many services already support Base, with big names such as Uniswap driving usage and taking up most of the traffic within the network. Here’s a few different apps already on this ecosystem:

SocialFi

Friend.tech

Friendtech introduced token-gated conversation, allowing you to truly monetize your following. 
They have a points system that is connected to an airdrop.

Farcaster

Farcaster is a platform that aims to put you back in charge of your social media profile. Data you submit belongs to you, and isn’t monetized by any big corporations.

One of its standout features, Frames, can harness the power of Base to bring web3 interactions, such as token minting, straight into the app.

Collab.land

Renowned verification bot that allows projects to gate access to a given channel on Telegram or on a Discord server to verified owners of a certain token or NFT collection.

Galxe

Bounty hunting platform allowing community members to do tasks in exchange for points to make them eligible for a giveaway of a given project

Memecoin

As with the mainchain, the Base ecosystem is starting to thrive with the latest trendy memecoins. $MFER is one of those! Stemming from it’s respective NFT collection, mfers launched their own memecoin through Base, that escalated to beat transaction records within this L2

NFT

Quite a few collections were released. We highlight the following:

The L2 ecosystem has existed for years, with its highs and lows, and since then, no consensual solution has been found. Many have presented their L2 product, few attracted usage, and the ones who did so far were fairly short lived. We have ended up with several solutions that have not satisfied the ETH community and are currently nothing more than novelties in the space. However, we feel that these experiments must be made in order to discover a solution that people will actually be compelled to use. It seems we are getting near that point and that Base is on the forefront of these solutions… Only time will tell which will gain traction.

At AmaZix, we have assisted some of these solutions through our services and we can certainly serve the next generation of L2’s. Book a call with us to get to know how we can help!