Coinbase’s Ethereum Layer-2 network just hit a major milestone, 1 billion transactions since its launch in August last year!
That’s pretty impressive, especially when you consider that Bitcoin took over 15 years to reach similar numbers.
A milestone achievement
On November 15, Base proudly announced its achievement, positioning itself as one of the fastest-growing Ethereum Layer-2 solutions out there.
Thanks to Coinbase’s strong branding and resources, Base has surged ahead and is now the second most popular blockchain in 2024, outpacing competitors like Optimism and Arbitrum.
In fact, interest in Base has skyrocketed ninefold compared to its closest rival.
To commemorate this billion-transaction milestone, Base released a special NFT. But then things took a turn when digital artist Chris Biron claimed that the NFT design looked suspiciously similar to his own work.
Biron pointed out that Base had already collected in over $36,000 from NFT sales by the time he raised his concerns.
He criticized the network for not giving proper credit, highlighting the gap between its corporate stature and its treatment of individual artists.
Honor and respect
Base didn’t waste any time addressing the backlash. Jesse Pollak, the lead developer at Base, publicly apologized and acknowledged that their NFT design unintentionally mirrored Biron’s artwork.
They took responsibility for the oversight and pledged to donate all proceeds from the NFT sales directly to Biron.
“Creativity often draws from shared inspiration. While designing this piece, we unintentionally reflected another artist’s work without proper attribution. We’re sorry and will send 100% of the proceeds to Biron.”
Biron appreciated Base’s prompt response and called their actions a “class act,” praising them for handling the situation with respect.
Business plan
Despite the NFT controversy, reaching 1 billion transactions is a big achievement for Base and highlights its rapid growth within the crypto industry.
With Coinbase backing it up, Base continues to draw attention as a leading player among Ethereum Layer-2 networks.
So while there may be bumps along the road, it looks like Base is here to stay and make an impact in the community, and in the market too.
Have you read it yet? Poland will be the next country with a Bitcoin reserve?
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