Base Reaches Record Deployers, Surpasses Ethereum in Volume

• Base network achieves 21,700 daily contract deployers.
• The metric signals growing developer activity.
• Base envisions attracting 1 million developers. 

As the blockchain ecosystem evolves, Layer 2 solutions are playing an increasingly important role in scaling established networks like Ethereum . Developed and supported by Coinbase, Base is one of these L2s, reducing transaction costs and processing times for Ethereum. 

Recently, Base achieved a significant milestone by recording 21,700 contract deployers in a single day, amid a surge in network traffic. The metric, which is a proxy for unique developer activity, aligns with the strategic goal set by the chain.

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Base Reaches Record in Contract Deployers

On Sunday, April 21, the Base network achieved a significant milestone by recording 21,700 contract deployers in a single day, according to Token Terminal. This metric serves as an indicator of active developer engagement on the platform. 

This comes amid strong growth in Total Value Locked (TVL) and daily transaction volumes, surpassing Ethereum and other prominent Layer 2 platforms. As of April 21, 2024, Base’s transaction volume reached 2.6 million, more than double of Ethereum’s 1.2 million. The only other L2 that was above Ethereum in that metric was Arbitrum, at 1.4 million transactions. 

High transaction volume signifies robust engagement and functionality, both by real users and bots. Moreover, the metric indicates that the network is successfully handling these volumes at scale. 

What Contract Deployers Do on Base

The term “contract deployers” refers to externally owned accounts (EOAs) that initiate the creation of smart contracts on the blockchain. This metric is key because each deployment represents a new project or a significant update to an existing application. It also aligns with Base’s head of protocol Jesse Pollak’s goal of attracting 1 million developers to the platform. 

The surge in contract deployers can be attributed to Base’s developer-friendly features, such as account abstraction and gasless transactions, which simplify the user experience. This is in part due to its integration with Coinbase, offering fiat onramps and a large user base. 

Base, incubated within Coinbase and built atop the Optimism OP Stack, offers developers enhanced security, lower fees, and compatibility with Ethereum’s development environment. The network supports the deployment of Ethereum Virtual Machine ( EVM )-compatible smart contracts, enabling a seamless transition for developers from Ethereum’s mainnet to Base.

On the Flipside

• High transaction volumes and rapid scaling can expose the network to risks such as transaction spamming and network congestion.
• In late March, Base saw a major surge in transaction volumes , largely thanks to DEX traffic. 

Why This Matters

Base’s success in achieving high transaction volumes and developer engagement indicates its viability as a level 2 scaling solution for Ethereum. It also shows the growing confidence in L2s. 

Read more about the most recent uptick in Base traffic: 
Base Network Booms With Record DEX Volumes and Transactions

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