Base Testnet Activity - New Coinbase L2 Chain

    Base is a new Coinbase project that helps developers build and operate decentralized finance (DeFi) applications, such as decentralized exchanges and lending platforms.

    Coinbase has recently introduced a new Layer 2 (L2) solution named "Base" on the Testnet. I have examined this freshly launched project and evaluated the following parameters:

    Mean Gas Fee

    Total daily gas usage

    Transaction activity, including total daily transactions, cumulative transaction volume, and transaction types

    Active addresses on both daily and cumulative bases

    Analyzed by Hess - Reading Time Almost 8 Min

    Introduction
    What is Base?

    "Base" is a new project launched by Coinbase to offer a platform for creating and operating decentralized finance (DeFi) applications. DeFi refers to a financial system built on blockchain technology that allows for the creation of smart contracts and the execution of transactions without intermediaries like banks.

    The base is a toolkit for developers who want to build DeFi applications. It provides tools and infrastructure for developers to create their own DeFi protocols, such as decentralized exchanges, lending and borrowing platforms, and more.

    Overview

    Flipside has recently released new data pertaining to the Base testnet. I have utilized the information presented in the tables to analyze user activities and transactions, focusing on the base.goerli.fact_event_logs and Base transactions tables.

    Method
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