Evan Van Ness, a supporter for Ethereum, recently mentioned Base, a freshly created Layer 2 (L2) chain, on X, pointing out that Base has already exceeded Cardano in terms of Total Value Locked (TVL).
Van Ness disparaged Cardano, calling it a “zombie chain,” citing statistics from DeFiLlama that indicates it is only 14th in TVL with $163.55 million, well below Ethereum’s $21.604 billion.
According to the same statistics, Base, which Coinbase debuted earlier this year, has only been around for a few months but has already managed to earn a TVL of $193.56 million. V
Base, an Ethereum L2 chain created in cooperation with Optimism, was revealed by Coinbase in February of this year. While preserving the same degree of security and decentralisation as the mainnet, layer 2 networks like Base function on top of an underlying blockchain, in this case Ethereum, to provide increased scalability, quicker transaction speeds, and lower gas prices.
It was created to be a platform that is user-friendly for developers and offers seamless connection with Coinbase’s tools, users, and products.
Base’s $193.41 million TVL is a result of a strong lineup of apps that includes BaseSwap, SwapBased, and Stargate. In the meanwhile, Cardano has a collection of successful dApps of its own, including Minswap, Indigo, and Liqwid.
It’s important to note that Cardano’s portrayal as a “zombie chain” by certain supporters of rival networks ignores its more expansive goals and continuing advances.
