Coinbase’s Ethereum layer-2 scaling solution, Base, reaches new transaction record
Coinbase’s layer-2 scaling solution for the Ethereum network, called Base, achieved a new all-time high in terms of daily transactions on Thursday. According to the project’s block explorer, Base processed over 1.8 million transactions, surpassing its previous record of around 1.4 million transactions.
On the same day, Base processed more transactions than its competitors Arbitrum and Optimism combined. Arbitrum saw approximately 500,000 transactions, while Optimism recorded around 378,000 transactions, as reported by their respective block explorers.
Base was officially launched last month and is powered by Optimism. Coinbase has expressed its hope that Base will play a significant role in onboarding over a billion people into the crypto economy.
It’s worth noting that Coinbase has no plans to launch a network token associated with Base. The project is designed to be compatible with Ethereum, Ethereum layer-2s, and alternative layer-1 blockchains.
As of the time of writing, Optimism (OP) is trading at $1.38. Ranked 41st by market capitalization, OP has experienced a 2.2% increase in the past 24 hours and a 6.1% increase over the past seven days.
Arbitrum (ARB) is currently trading at $0.788. Ranked 39th by market capitalization, ARB has seen a 2.1% decrease in the past day and a 12.5% decrease over the past week.
