As a seasoned researcher with years of experience navigating the dynamic world of cryptocurrencies and blockchain technology, I find Phantom’s latest move to integrate Base into its multi-chain wallet offering truly noteworthy. Having juggled multiple wallets myself during my early days in this field, I can appreciate how this development simplifies token management across various chains.
Phantom, a well-known digital wallet service specializing in cryptocurrencies, has made a significant stride on its multi-chain adventure by adding support for Base, Coinbase’s Ethereum-related Layer 2 blockchain. This action signifies the conclusion of the beta phase for the Base integration, making it accessible to all users.
With the integration, Phantom users can effortlessly engage with Base platform as well as other blockchains such as Ethereum, Solana, and Bitcoin from a unified wallet. This method streamlines token management across multiple chains by eliminating the need for multiple wallets. Users are able to send, receive, and buy tokens like USDC ($1.00) and ETH ($3339), along with checking their respective details such as 24-hour volatility, market cap, volume, etc., using various payment options which include debit/credit cards, Apple Pay, or Coinbase.
In an earlier statement, Phantom highlighted the versatility of its platform:
Using your Phantom wallet becomes hassle-free as our team support helps you engage with the Base ecosystem seamlessly.
A Streamlined User Experience
Beyond streamlining asset management, Phantom additionally offers functionalities designed to enhance user security and comfort. For instance, users can link their hardware wallets, such as Ledger devices, to both the mobile application and browser extension. This connection bolsters the protection of their cryptocurrency assets.
This advancement is consistent with Phantom’s persistent goal of becoming a prominent multi-chain wallet provider. Originally debuting as a wallet exclusive to the Solana blockchain, Phantom broadened its horizons in May 2023 to accommodate Ethereum and Polygon networks. With Base now part of its system, Phantom is further enhancing user convenience and network compatibility.
Base’s Meteoric Rise in Activity and Value
As an analyst, I’ve been keeping a close eye on the growth of the Base blockchain, and it’s truly impressive. According to DeFiLlama, Base currently ranks sixth in terms of total value locked (TVL), with approximately $3.4 billion secured within its ecosystem. This is quite substantial when compared to other Ethereum Layer 2 solutions like Arbitrum, which holds a TVL of $3 billion. Interestingly, the total TVL for Base, encompassing canonical, native, and external sources, surpassed the $10 billion mark on November 15, as suggested by data from L2BEAT.
In terms of speed, Base stands out as the most rapid Ethereum Layer 2 option currently available. It recently reached a remarkable milestone of processing 106.26 transactions per second (TPS) on November 23. This significant improvement surpasses the average of 4 TPS recorded in January, as reported by Jesse Pollak, the founder of Base.
As Base coin keeps rising, Phantom’s integration with this strong blockchain makes it more attractive for users looking for a unified and secure crypto wallet. Since compatibility, efficiency, and security are top priorities, Phantom is ready to serve the expanding needs of the decentralized market.
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2024-11-26 13:34