The week in blockchain tech: Crypto-fueled social marketplace Friend.tech goes viral on Coinbase's new Base blockchain, Shiba Inu community's 'Shibarium' network aims for fresh start, and Ethereum experts handicap the competition between leading technologies for layer-2 networks.
above those of Ethereum as well as rival layer-2 projects Arbitrum and Optimism. According to FundStrat, Base has accrued nearly $4 million in fees, $2.5 million of which is retained by Coinbase; it works out to $30 million extra revenue on an annual basis. One question is whether Base can retain the growth once this hot ball of money bounces to the next crypto craze. “
’s speculative nature,” writes Galaxy Research, “highlights ongoing questions over Coinbase's role in moderating a chain that today is ‘decentralized’ in name only.”
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