Coinbase layer-2 network Base has achieved a new milestone in terms of daily transactions, surpassing its previous record since its launch in August, according to data from blockchain explorer BaseScan. On September 14, the layer-2 blockchain hit 1.88 million transactions, exceeding its previous record of 1.41 million transactions on August 21. This puts Base ahead of rival chains like Optimism and Arbitrum, which had a combined 878,000 transactions for the day.
However, despite this achievement, Base still lags behind more prominent blockchains such as Polygon and BNB Smart Chain (BSC). Polygon recorded 2.1 million transactions on the same day, while BSC had 3.1 million transactions. It is important to note that Base’s previous transaction record on August 21 also saw a high number of daily active users, reaching 136,000. In contrast, the layer-2 network only had around 86,000 daily active users on September 14, according to data from Dune Analytics.
Base officially launched on August 9, offering users the ability to bridge tokens, swap tokens, provide liquidity, mint nonfungible tokens (NFTs), and perform various other activities on layer-2 networks. Since its launch, the network has received a positive response from the crypto community. Within the first two weeks, over $242 million worth of crypto assets were bridged to the blockchain, with 130,000 unique wallets using it daily. Additionally, over 700,000 NFTs were minted by more than 268,000 unique wallets on the layer-2 network.
It is worth noting that these achievements are significant for Base, but it still has room to grow and compete with more established blockchains like Polygon and BSC. As the crypto industry continues to evolve, layer-2 networks like Base are expected to play a crucial role in scaling and improving the efficiency of blockchain transactions.
Sources:
– BaseScan: https://cointelegraph.com/news/base-network-hits-almost-2m-transactions-in-a-day-still-lags-polygon-bsc
– Polygon: https://cointelegraph.com/news/base-network-hits-almost-2m-transactions-in-a-day-still-lags-polygon-bsc
– BNB Smart Chain: https://cointelegraph.com/news/base-network-hits-almost-2m-transactions-in-a-day-still-lags-polygon-bsc
– Dune Analytics: https://cointelegraph.com/news/base-network-hits-almost-2m-transactions-in-a-day-still-lags-polygon-bsc
– Coinbase Base Daily Active Users Reaches High: https://cointelegraph.com/news/base-network-hits-almost-2m-transactions-in-a-day-still-lags-polygon-bsc
– Coinbase Base Network Officially Launched: https://cointelegraph.com/news/base-network-hits-almost-2m-transactions-in-a-day-still-lags-polygon-bsc
– Friend.tech TVL Tops $20M Weeks After Being Declared ‘Dead’: https://cointelegraph.com/news/base-network-hits-almost-2m-transactions-in-a-day-still-lags-polygon-bsc
– Base Onchain Summer: Over 700 Thousand NFTs Minted, 268 Thousand Users: https://cointelegraph.com/news/base-network-hits-almost-2m-transactions-in-a-day-still-lags-polygon-bsc
– Coinbase Base Network: First Seven Days of Onchain Summer: https://cointelegraph.com/news/base-network-hits-almost-2m-transactions-in-a-day-still-lags-polygon-bsc
– Coinbase Screws Up, Florida Bans CBDCs, and Ordinals Face Controversy: Hodler’s Digest: https://cointelegraph.com/news/base-network-hits-almost-2m-transactions-in-a-day-still-lags-polygon-bsc
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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