Boosts Coinbase’s Blockchain Activity

Coinbase’s Layer 2 Blockchain Base Sets New Transaction Record

Coinbase’s layer 2 blockchain, Base, has achieved a significant milestone, registering a record-breaking number of daily transactions, surpassing its competitors Arbitrum and Optimism combined, according to data from IntoTheBlock.

The platform witnessed 1.88 million transactions on Thursday, reflecting a surge in activity that can be partly attributed to a new social application called FriendTech, instead of decentralized finance (DeFi) applications or non-fungible token (NFT) marketplaces.

Lucas Outumuro, head of research at IntoTheBlock, highlighted the interesting trend, stating, “Interestingly, it is not decentralized finance (DeFi) applications nor non-fungible token (NFT) marketplaces driving the surge in Base’s activity. Instead, a significant portion of usage can be attributed to a new social application, FriendTech.”

FriendTech, a decentralized social network platform built on Base, dubs itself as “the marketplace for your friends.” It also experienced increased usage in recent weeks, with its daily transactions reaching an all-time high of 529,000 transactions.

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J-S Tremblay
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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