Coinbase's Base Network Outperforms With 1.88 Million Transactions in a Day


17 Sep 2023 5:16 PM

Coinbase-affiliated Base Layer 2 network achieves record 1.88 million daily transactions, surpassing rivals....

  • Coinbase's Layer 2 network, Base, achieved a record-breaking 1.88 million transactions on September 14, surpassing competitors like Arbitrum and Optimism.
  • Base has experienced rapid adoption since its launch less than two months ago, attributed to Coinbase's influence and the growing interest in decentralized applications (dApps) like Friend.Tech.
  • The network boasts an average of 888,000 daily active addresses and has a total value locked of $386 million, making it the fourth-leading Layer 2 protocol based on TVL.
  • Base's daily transactions per second have reached 19.57, with a total of 20.5 million transactions documented in the past month.
  • Friend.Tech, a social application allowing users to monetize their Twitter accounts, is the primary driver of Base's activity, attracting over 100,000 users and generating significant inflows and fees.
  • After a minor decline in transactions, Base has seen a resurgence in activity, potentially driven by users accumulating points for an upcoming airdrop.

The article highlights the success and growth of Coinbase's Layer 2 network, Base, and the positive impact of decentralized applications like Friend.Tech. The sentiment is generally positive, emphasizing the network's achievements and potential.

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You May Ask

How many transactions did Base register on September 14, surpassing its competitors?What factors contribute to Base's rapid adoption?What is the total value locked within the Base network?How many daily active addresses does Base have, and what percentage does it constitute compared to Optimism roll-up?What is the primary driver of Base's vibrant activity, and what are its key features?

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