The post Base Expands Access on xPortal as Layer 2 Adoption Surges appeared on BitcoinEthereumNews.com.

Another significant milestone has been achieved by Base, an Ethereum Layer 2 (L2) scaling solution. It is now fully available on xPortal. This allows users to buy, transfer, swap, and spend assets with an improved efficiency that promises to take on-chain applications to a whole new level. For us at Base, it is just another step—which we are very happy to have taken—toward our mission of providing a secure, low-cost, and developer-friendly Layer 2 that allows users everywhere to interact effectively with on-chain applications. The ongoing surge in Base adoption has propelled the network’s economic activity to new heights, with the GDP relating to transaction fees hitting an all-time high of 7x. This is a new way of looking at how efficient and effective the Base blockchain is. For every dollar in transaction fees, our users directed seven times as much capital toward on-chain services. Base’s Economic Growth: GDP to Transaction Fees at Record Levels One of the most prominent indicators of Base’s success is its quarterly GDP relative to transaction fees, which soared to about 7x in Q4. This metric points to Base users significantly boosting the network’s economic activity—which, in our view, is a pretty darn good sign. If you think about it, as an end user, what could be a better indicator than the network itself being significantly more economically productive than it was just a few months (or years) prior? This means that for each $1 spent on transaction fees, users were able to produce $7 worth of on-chain economic activity. This is fundamentally different from traditional blockchain systems, where high gas fees tend to keep users away. Base is able to achieve a 7:1 activity-to-spending ratio because it can maximize user capital efficiency. This makes Base a much more desirable venue for both retail users…

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Filed under: News - @ January 30, 2025 9:24 am