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The Wallet 🎒
@thewallet
📝 A Comprehensive Overview of the Base Blockchain 🧵👇👇👇👇 #Ethereum holds a pivotal role in the #blockchain landscape, serving as the foundation for a vast array of #dApps and smart contracts. It has significantly contributed to the growth of #DeFi, #NFTs, and blockchain gaming, transforming them into thriving sectors. ⚠️ However, Ethereum faces certain challenges, particularly in terms of transaction speed, costs, and scalability.
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The Wallet 🎒
@thewallet
📍 To address these challenges, Layer-2 blockchains have emerged as crucial solutions. By offloading transactions from the main Ethereum network while still leveraging its security, these Layer-2 blockchains enhance transaction speed, reduce costs, and support high transaction volumes. One of the most promising Layer-2 solutions is @base, which is built using the OP Stack developed by Optimism. Base aims to not only resolve Ethereum’s existing issues but also to advance the network’s capabilities, positioning Ethereum as a future-ready blockchain.
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The Wallet 🎒
@thewallet
👉 The Evolution of Base Base’s development began in early 2023 when Coinbase announced its intention to create an Ethereum Layer-2 blockchain. Soon after, the Base testnet was launched, providing developers with a platform to create dApps for Base. The Base mainnet officially went live in August 2023. Due to its strong association with Coinbase, Base has quickly gained momentum over the past year. One of the earliest widely-used Base products was the Coinbase Learn-to-Earn program, an online platform that rewards users for learning about blockchain technology. Numerous prominent projects, marketplaces, and tools have either migrated to or begun supporting Base, drawn by its low fees, rapid transaction speeds, and substantial financial backing.
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