Why Founders Should Consider Building on Base

With over 100 chains, it's not easy for a founder to decide where to build their app. Coinbase's Base, an Ethereum Layer 2 solution, offers compelling reasons to be the platform of choice, especially for projects focused on existing user base, cost effectiveness and developer support.

Base Overview

Base is a Layer 2 scaling solution built on Optimistic Rollups, leveraging the security of Ethereum while improving transaction speed and cost. Since its launch in 2023, Base has seen rapid adoption, making it one of the fastest growing Layer 2 platforms.

With transaction fees around $0.0033 and a growing list of over 360 dApps, Base is ideal for founders looking for a scalable and cost-effective solution without sacrificing security.

Key Metrics (as of 2024)

Base has demonstrated explosive growth in 2024, particularly in total value locked (TVL), user activity, and ecosystem expansion:

Why Base Stands Out

1. Incubated by Coinbase

   Base benefits from the backing of Coinbase, one of the most reputable and widely used cryptocurrency exchanges in the world. This association not only ensures a high level of security and trust, but also seamlessly integrates Base into Coinbase's vast ecosystem, providing easy onramps for users to move assets from Ethereum and other chains.

   
   

2. Cost Efficiency

   One of the main advantages of Base is its cost efficiency. With transaction fees around ~$0.0033 compared to Ethereum's $1.03 today, Base offers a more than 99% reduction in transaction costs. This significant reduction makes Base an attractive option for users and developers looking to minimize costs while benefiting from Ethereum's robust network.

   
   

3. Interoperability and EVM Compatibility

   Since Base is an Ethereum Virtual Machine (EVM) network, developers can easily deploy any EVM-compliant codebase on it, ensuring accessibility to Ethereum's extensive ecosystem. Developers can leverage existing tools and frameworks, making it easier to port applications to Base without extensive modifications.

   
   

4. Developer and User-Friendly

   Base offers features such as Account Abstraction (ERC4337) and simple developer APIs for gasless transactions, improving the user experience and simplifying development processes. This makes Base a developer-friendly environment that encourages innovation and the creation of new applications.

Onchain Summer

Base’s Onchain Summer campaigns in 2023 and 2024 played a pivotal role in expanding its ecosystem. These campaigns featured new apps, NFT drops, and projects, attracting widespread participation. They not only boosted daily active users but also showcased the versatility of Base for developers and users alike.

By highlighting creative blockchain solutions and fostering collaborations within the ecosystem, Onchain Summer helped Base reach new milestones, such as surpassing 1 million daily active addresses, solidifying its status as a leading Ethereum Layer 2 network.

It's a great marketing opportunity that will likely continue for years to come for anyone who builds on Base.

https://www.base.org/onchainsummer

Smart Wallet

In addition, the introduction of new tools and integrations, such as Coinbase’s smart wallet, will likely drive even more users and developers to the platform​.

Coinbase recently introduced its Smart Wallet in June 2024, designed to simplify the onboarding process and enhance the user experience in decentralized finance (DeFi). Key features of the Smart Wallet include:

Coinbase’s smart wallet, will likely drive even more users and developers to the platform​. For founders, this means more opportunities to tap into a growing ecosystem of users, investors, and developers.

Base Projects

Here are some of the top Base projects to check out:

• Aave – one of DeFi's top non-custodial liquidity protocols

• Astaria – a fixed-rate lending protocol that supports ERC-20s and NFTs

• Blackbird – a loyalty and memberships platform centered around restaurants

• Highlight – a do-it-yourself NFT creator suite

• JokeRace – a platform for onchain contests

• Mirror – a web3 publishing platform

• Nouns Builder – a custom Nounish DAOs deployer

• Party – a decentralized coordination protocol and platform

• Relay – a rapid fast bridge built by the Reservoir team

Conclusion

With its impressive growth trajectory and developer-friendly environment, Base is quickly becoming one of the leading Layer 2 solutions on Ethereum. If you’re a founder looking for the right blockchain platform to scale your project, Base is definitely worth considering.

Want to build on Base and need support? Contact us, and we'll help you get started!