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The Base network, Coinbase's Ethereum Layer 2 scaling solution, has been making headlines due to rapid growth and occasional technical challenges.
Recently, Base's Total Value Locked (TVL) has surged dramatically, reaching around $2 billion, driven by increased activity in decentralized finance (DeFi) and the growing supply of stablecoins like USDC. This impressive expansion has sparked speculation that Base could soon surpass Arbitrum, the leading Layer 2 network on Ethereum, in terms of user engagement and transactions.
However, Base has also faced setbacks, including a recent outage where the network failed to produce blocks for 20 minutes. This issue raised concerns within the crypto community about the reliability of the network, especially given that the outage was not widely reported by Base's official channels.
Despite these challenges, the Base team responded quickly to restore the network, and it continues to show strong momentum in the Layer 2 space. 2 replies
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