Coinbase’s Base Network Reaches Record Number of Active Addresses

The Base Network, a layer-2 solution from crypto exchange Coinbase, reached a new milestone last week with over 4 million active addresses, Base CEO Jesse Pollak confirmed, sharing data from Dune Analytics. The increase in active addresses comes amid the ongoing “Onchain Summer” campaign, an event designed to drive adoption of the network.

Stimulating Layer-2 Network

First launched in 2023, the “Onchain Summer” campaign aimed to boost adoption of the Layer-2 network. During the month-long campaign, 268,000 wallets collectively minted over 700,000 non-fungible tokens (NFTs) on the network. Additionally, over €220 million worth of crypto was bridged to Base during the promotional period, with over 130,000 unique wallets accessing the network daily.

Following last year’s success, Base has decided to host the summer campaign again in 2024. Developers are encouraged to build new applications on the blockchain, with Base seeing the event as an opportunity to “unleash onchain creativity.” The network has set aside 600 Ethereum, worth approximately $1.85 million, in rewards for those who participate and contribute to the network’s development. The event began in June and will run until August.

Collaboration with AtariX

In the current campaign, Base has partnered with AtariX, the Web3 division of renowned video game developer Atari, to bring classic games to the blockchain. On July 25, AtariX announced that it would be bringing a classic arcade game to the Base network via an “onchain” arcade. Players would have to purchase an NFT pass to play the game and get on the leaderboard.

However, controversy has arisen surrounding the game Asteroids, which was launched by Atari. On August 5, Kautuk Kundan, founder and CEO of Stackr Labs, claimed that he had hacked the game to prove that it was not actually based on the blockchain. Kundan stated that he and his team were able to manipulate the game’s leaderboard without actually playing, which he claims proves that the game is not fully “onchain,” despite Atari’s claims.