Coinbase Base Achieves 1 Billion Transactions Amid Art Scandal
Base, Coinbase’s Ethereum layer 2 network, has found itself at the center of controversy as it celebrates its billionth transaction.
The celebration included the release of an NFT that inadvertently copied the work of digital artist Chris Biron.
Base transaction volume exceeded 1 billion
On November 15, Base, powered by Coinbase, proudly announced that it had completed 1 billion transactions since its launch in August 2023. This milestone was achieved in just over a year, an impressive feat compared to other mature networks. It took Bitcoin more than 15 years to reach similar numbers.
Base’s meteoric rise is no surprise. The web has quickly become The fastest growing Ethereum Layer-2 solutionsurpassing competitors such as Optimism Decide. CoinGecko’s most recent report ranks Base as the second most popular blockchain By 2024, the network is now attracting nine times more interest than its closest Tier 2 competitor, Arbitrum.
“Since Q1, the Base ecosystem’s share of investor interest has increased more than 5x, lifting the ranking of the Layer 2 ecosystem from seventh to second and surpassing the Layer 1 Ethereum ecosystem. This also means The Base ecosystem now attracts nine times more interest than Arbitrum, the second most popular Layer 2 ecosystem,” said Coingecko.
Market observers attribute the network’s rapid growth to strong support and Resources provided by Coinbasethe $76 billion cryptocurrency exchange that operates Base. Moreover, Coinbase’s brand power as the largest cryptocurrency exchange in the United States has undoubtedly contributed. base success.
NFT controversy and apology
To commemorate the 1 billion transaction achievement, according to Minted NFT. However, the artwork bears a striking resemblance to the creation of digital artist Chris Biron, who accused the network of copying his work without authorization. Biron claimed that Base had made more than $36,000 in profits from NFTs at the time of his complaint.
“I usually like it when someone re-creates/remixes my stuff. But it’s not that fun when a $76 billion company copies it, sells it, and makes over $36,000 in profits with no attribution to me at all. ,” Byron point out.
In response to the backlash, Base Lead Developer Jesse Pollak Issue a public apology explaining that the incident was unintentional. The Coinbase-backed network also admitted that its artwork inadvertently reflected Biron’s work and pledged to improve its processes to prevent similar issues in the future.
“Creativity often comes from shared inspiration, and in designing this piece we inadvertently copied another artist’s work without attribution. We are sorry and will be sending 100% of the proceeds to Biron,” Base Wrote.
Byron praised Bess’s response, calling it “first-class behavior” and praised the team for handling the situation with respect.
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