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