Base Admits Its Social Media Strategy Left It Behind in Prediction Markets and Perps — Here's What That Means

WHY IT MATTERS

Think of Layer 2 networks like different shopping malls competing for the best stores. Base — a network built by Coinbase to make Ethereum faster and cheaper — initially focused on attracting 'social' apps (think crypto versions of social media). But while Base was doing that, other malls were landing the equivalent of high-end department stores: prediction markets (where people bet on real-world outcomes) and 'perps' (short for perpetual futures — a popular way to trade crypto with leverage). Now Base's leader is admitting they need to catch up. For everyday users, this matters because the apps and trading options available to you depend heavily on which networks win these competitive battles.