In the whirlwind universe of blockchain, the surging popularity of Coinbase’s Base, a layer 2 solution, stands out. Its meteoric rise in daily active users, now eclipsing those of rival Optimism, represents the broader industry's trend towards efficient, scalable layer 2 solutions. The excitement around Friend.Tech, a social network built on Base, further exemplifies this traction.

A Quick Dive into the Rise of Base

Coinbase's Base network made headlines when it crossed 136,000 daily active users just a day after its official public launch. This layer 2 blockchain solution, incubated by Coinbase and crafted using the Optimism software stack, saw around 30% of its users on August 10 as completely new to the platform. CoinTelegraph cited Dune Analytics data showing  the record user influx wasn't an isolated event. Earlier, on July 31, Base recorded an impressive 60,000 new users.

Friend.Tech: The Catalyst for Base’s Growth?

One can’t discuss Base’s surge without acknowledging Friend.Tech’s role. This social networking platform lets users trade shares linked to prominent Twitter personalities. While still in beta mode and accessible only via an exclusive sign-up code, it has generated considerable buzz. A not-so-subtle hint on the app about an impending token release spurred a surge in activity, with users enthusiastically sharing referral codes in hopes of farming a prospective airdrop.

Comparing Base with Its Peers

Base's growth trajectory places it favorably when compared with its contemporaries. According to TokenTerminal data, Base's daily active users are fast approaching Arbitrum’s total of 147,000. CryptoRank’s recent data positions Base fourth in daily transactions per second, lagging behind zkSync Era, Arbitrum, and Optimism.

Base's Broad Vision

Launched in beta on February 23rd, Base’s inception was met with enthusiasm. Many blockchain enthusiasts predicted Base could be a gateway for an influx of users into the Web3 ecosystem, given Coinbase’s significant user base. Beyond the initial speculations, Base has carved a niche for itself. It's more than just a layer 2 solution; users can bridge Ether to Base, engage with decentralized crypto exchanges, execute payments via web apps, register ".base" usernames, or even kick-start a decentralized autonomous organization.

Takeaways for Entrepreneurs:

1. Adaptability is Crucial: The quick pivot and growth of Base underscore the need for businesses in the tech arena to remain agile and adapt to evolving market dynamics.

2. Stay User-Centric: Base's functionality, from bridging Ether to engaging with decentralized exchanges, underscores the importance of catering to the end user's needs.

3. Anticipate Scalability: The blockchain domain, much like other tech sectors, can experience sudden growth spurts. Infrastructure and services should be primed for scalability to handle influxes seamlessly.

Base's rapid ascent in the blockchain stratosphere is a testament to the confluence of strategic positioning, user-centric features, and beneficial partnerships. For entrepreneurs, it's a lesson in agility, adaptability, and the power of collaboration in today's fast-evolving tech landscape.

Sources:

Coin Desk

CoinTelegraph