Base, the layer 2 network by Coinbase, has been gaining attention for its impressive transaction-per-second throughput, rivaling Solana. Jesse Pollak, the head of protocols at Coinbase, announced that Base achieved a transaction per second (TPS) range of 300 to 400 without any issues.

Despite this claim, real-time data from Chainspect shows the network’s TPS at 26.8, peaking at 292. On the other hand, L2Beat, an analytics platform for layer-2 ecosystems, reported that Base’s average TPS reached 37 on April 8, surpassing Ethereum’s 14 TPS.

This performance comparison has sparked discussions within the cryptocurrency community. A trader named Wazz noted that Base’s TPS is now on par with Solana, a network known for its high TPS but also for a high rate of failed transactions.

Correct me if I’m wrong but if true then @base is now doing the same TPS as Solana. Considering Solana is averaging 1K non-vote TPS and 60% of those txs included in blocks are failed TXs. So actual TPS is around 400. If true $ETH is already faster than $SOL. Very impressive.

Helius Labs CEO Mert Mumtaz raised concerns about Pollak’s figures, pointing out the exclusion of failed transactions in Base’s data. The largest Base block showed 94% failed transactions, adjusting the actual TPS to 41.

These discussions come amidst the ongoing debates between Ethereum’s layer 2 solutions supporters and Solana’s network, which has experienced challenges with network congestion and reliability.

Meanwhile, Base has witnessed a significant increase in total value locked (TVL) to $2 billion, driven by a surge in meme coin activity. However, an analysis revealed that over 90% of new meme coins on Base had security vulnerabilities, with 17% being classified as scams.

Post Views: 2