Vitalik Buterin Praises Coinbase’s Base as L2 Benchmark

Central to Vitalik Buterin’s endorsement is Base’s adherence to what analytics platform L2Beat defines as a ‘Stage 1’ security model. Buterin explained that this classification is critical because it ensures user funds are protected by Ethereum’s base layer, even in the event of a network outage on Base itself. He clarified the technical specifics in a post on X, stating, ‘Stage 1 means that a security council with a 75% vote can override the onchain code. However, stage 1 also requires that a quorum-blocking (>=26%) portion of the council sits outside the org that is managing the L1. Hence, the org cannot unilaterally censor or steal via a security council vote, so they are not a custodian.’

This structure is a foundational differentiator. Buterin stressed that calling Layer 2s like Base ‘non-custodial’ is more than a branding exercise; it is a concrete technical reality. The security derives directly from Ethereum’s smart contract logic, which ultimately controls the movement of funds. This safeguard makes it impossible for Base’s operators to misappropriate assets or selectively block withdrawals. According to L2Beat, Base is one of only eight projects that currently qualify for this Stage 1 status, underlining Buterin’s claim that the chain functions as a true extension of Ethereum’s trust model rather than a detached, custodial service.

Buterin acknowledged that Base employs certain centralized mechanisms to achieve its impressive speed and user experience. However, he drew a crucial distinction between this operational design and the custodial control seen on exchanges. The key, he argued, is that while Base may use centralized components to improve efficiency, it does not control user funds. Withdrawals and the ultimate safety of assets remain irrevocably tied to Ethereum’s underlying infrastructure.

This hybrid approach creates what Buterin described as a model that successfully balances convenience with decentralization. It allows Base to offer the high throughput and low costs that users demand from a Layer 2, without forcing them to sacrifice the core security promises of the Ethereum ecosystem. This balance is becoming increasingly important as the industry seeks scalable solutions that do not recreate the centralized risks of traditional finance.

Buterin’s praise coincides with Base cementing itself as one of the most active and valuable Layer 2 networks. Data from L2Beat reveals the scale of its growth: the chain is now handling around 160 transactions per second, which amounted to nearly 360 million transactions in the past month alone. In terms of total value locked (TVL), a key metric of ecosystem health, Base has climbed to nearly $15 billion. This positions it as a clear leader, second only to Arbitrum, which holds a TVL of roughly $20 billion.

Much of this rapid adoption is attributed to the formidable backing of Coinbase. The $85 billion firm provides not only technical support but also extends its brand credibility as the largest US-based crypto exchange to the Base network. This involvement has been instrumental in amplifying trust and adoption, effectively creating a powerful feedback loop where Coinbase’s user base naturally gravitates toward its native scaling solution. As a result, Base has quickly become a dominant player, sparking what some observers are calling an ‘L2 arms race’ as networks compete to reach and surpass the $20 billion TVL territory.