Is there some special property of '$e$' which makes it suitable to be used as a base for logarithms?
Moreover, does the natural logarithm possess some advantage over the common logarithm? I don't understand why there is a need to choose an irrational number, '$e$', for a base. Isn't it much simpler to use 10 as a base?


Base 10 would be arbitrary, though it is more helpful in getting a feeling of the order of magnitude of the original numbers. The reason to pick base $e$ is that one can define $\ln$ naturally even without picking a base, for example as $$\ln x:=\int_1^x\frac{\mathrm dt}t$$ Another (or maybe the same?) advantage is that it is easy to estimate $\ln x$ for numbers close to $1$, for we have $\ln(1+h)\approx h$ if $h$ is small. Even the complete Taylor series for $\ln(1+x)$ is nice: $\ln(1+x)=x-\frac12x^2+\frac13x^3-\frac14x^4\pm\ldots$, in particular, all the coefficients are nice and rational. When working with any other base you'd have to carry an irrational constant around all the time, whereas with the natural log, this irrational constant is visible only when you write $\log_e$ instead of $\ln$.