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News

Base Protocol Hits $1B GDP, Targets $1T Next

2 mins mins
Base Protocol Hits $1B GDP, Targets $1T Next

Key Points:

  • The Ethereum Layer-2 solution, Base Protocol, has achieved an impressive $1 billion in annualized on-chain GDP, reflecting its rapid growth and ecosystem expansion.
  • Head of Base, Jesse Pollak, announced the protocol’s ambitious goal of reaching $1 trillion in annualized on-chain GDP, signalling confidence in its scalability and adoption.
  • Launched by Coinbase in 2023, Base Protocol is driving adoption with low-cost, high-speed transactions, supporting DeFi, gaming, and NFTs, reshaping blockchain’s future.

Jesse Pollak, the head of Base Protocol, recently announced a major milestone for the Ethereum Layer-2 scaling solution.

Base Protocol Reaches $1 Billion Milestone

In a post on X, he revealed that Base’s annualized on-chain GDP has surpassed an impressive $1 billion. This achievement underscores the protocol’s rapid growth and its significant role in advancing blockchain adoption.

Pollak’s post highlighted Base Protocol’s next ambitious target: a $1 trillion annualized on-chain GDP. This bold vision reflects the protocol’s confidence in its scalability, reliability, and capacity to support an ever-expanding ecosystem of decentralized applications (dApps).

Read more: Base ENS Subnames Set the Stage for Fair Dutch Auction Launch

Leading Blockchain Innovation Through Layer-2 Tech

Launched by Coinbase in August 2023, Base Protocol has quickly gained traction as a user-friendly and developer-centric platform. It leverages the Ethereum network to offer low-cost, high-speed transactions, attracting a growing number of developers, businesses, and users. The protocol has facilitated various use cases, including decentralized finance (DeFi), gaming, and non-fungible tokens (NFTs), contributing to its impressive economic output.

The $1 billion milestone is a testament to the increasing adoption of Layer-2 solutions, which address Ethereum’s scalability challenges while maintaining decentralization and security. As more projects migrate to or build on Base Protocol, the platform is well-positioned to achieve its trillion-dollar vision.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Annie

21 January 2025, 04:07:55 GMT +0000

Championing positive change through finance, I’ve dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. “Invest in a better future,” I often say. That’s the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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