New Coinbase Ethereum Layer-2 Sets Record for Daily Transactions, Surpassing Arbitrum and Optimism
Coinbase’s layer-2 scaling solution for Ethereum, called Base, achieved a new milestone by reaching an all-time high in daily transactions. On September 14th, Base processed over 1.8 million transactions, surpassing its previous record of 1.4 million. This figure exceeded the combined total transactions of its competitors Arbitrum and Optimism, which recorded around 500,000 and 378,000 transactions respectively on the same day.
Base, which launched last month and is powered by Optimism, aims to onboard more than a billion people into the crypto economy. Unlike other layer-2 projects, Base does not have its own network token and is designed to be compatible with Ethereum, Ethereum layer-2s, and alternative layer-1 blockchains.
Arbitrum and Optimism’s Performance
Optimism (OP) currently holds a value of $1.38. It is ranked 41st by market cap and has experienced a 2.2% increase in the past 24 hours and a 6.1% increase in the past seven days. On the other hand, Arbitrum (ARB) is trading at $0.788 and is ranked 39th by market cap. It has seen a decrease of more than 2.1% in the past day and over 12.5% in the past week.
Hot Take: Coinbase’s Base Surges Ahead
Coinbase’s Ethereum layer-2 scaling solution, Base, demonstrated its potential by achieving a new record for daily transactions. With over 1.8 million transactions in a single day, Base outperformed competitors Arbitrum and Optimism. This milestone showcases the scalability and efficiency of Base, which aims to onboard billions of individuals into the crypto economy. As Coinbase continues to prioritize innovation in the Ethereum ecosystem, Base is positioned as a key player in facilitating mass adoption. The success of Base highlights the growing demand for layer-2 solutions and the potential they hold for revolutionizing blockchain technology.
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