Base Network Surpasses Ethereum in TPS and TVL: A Game-Changing Milestone in the Blockchain Space
Crypto News – In a groundbreaking development within the blockchain sphere, data from L2beat has illuminated an intriguing shift. As of September 14, the Base network has consistently showcased superior performance in Transactions Per Second (TPS) compared to Ethereum.
On this pivotal day, the Base network achieved an unprecedented TPS of 21.29. Despite a subsequent decrease to 12.93 TPS, Base continues to outperform Ethereum, which currently stands at 10.18 TPS. This marks an extraordinary 50% increase in just a mere seven days.
Further solidifying Base’s escalating prominence, data from DefiLlama highlights a substantial surge in Total Value Locked (TVL) on the Base network, catapulting it beyond Solana to an impressive $375.22 million. This achievement elevates Base to the position of the ninth-largest network by TVL, with Solana trailing at $306.91 million.
Base, constructed on Optimism’s OP Stack technology, is highly acclaimed for its security, cost-efficiency, developer-friendly environment, and adaptability for non-public decentralized applications (dApps). Serving as a hub for Coinbase’s on-chain products, Base nurtures an open ecosystem that encourages collaboration among diverse stakeholders.
In contrast, Ethereum has witnessed a decline in its daily gas consumption, hitting its lowest usage in the past month. Despite this reduction, Ethereum maintains its leading position in transaction fees. Nevertheless, a closer inspection reveals a steady decline in transaction fees on the Ethereum network over the past few weeks.
An noteworthy update is the recent introduction by Ethereum developers of a new test network named Holesky, designed to enhance the testing capabilities of the world’s largest smart-contract blockchain. This expansion represents a significant stride forward, as it is projected to be at least twice the size of the main network in terms of capacity, as per developers.
1 Comment