The post Base achieves 51% TPS growth against Ethereum L2s appeared on BitcoinEthereumNews.com.

Base, the Ethereum L2 network developed by Coinbase, has experienced major growth in Q3 and through 2024. Over the last day, Base’s transactions per second (TPS) increased by 51%, as per L2Beat data.  Base is proving to be a solid competition after generating $7.2 million in revenue in Q3. As more projects and users migrate to Base, its daily transactions are nearing 7 million. Base sees more growth in activity and transactions Base transactions per second (TPS) averaged over the past day are up by almost 51%,  according to L2Beat. In comparison, Arbitrium One transactions were up by 17.5% and OP Mainnet was down by 11.9%. At the same time, Base managed to increase its TVL by around 1%. The dollars locked on the network are at its cumulative peak of about $2.5 billion this week. In Q3, Base reportedly generated $7.2 million in revenue. Among other blockchain networks, it was only behind names like Ethereum and Tron that generated $159 million and $151 million, respectively. Base outperformed networks like BNB Chain ($3.4M) and Arbitrum ($3.3M) in terms of revenue. 2024 saw large activity on Base and CoinGecko report finds that it handled the most transactions in Q3. In the last quarter, Base made up 42.5% of all Layer 2 transactions, followed by Arbitrum at 18.9% and Blast at 8.1%. According to DefiLlama, Base houses 368 protocols with 2.42 million active addresses in the last 24 hours. Over the past month, Base has recorded 41% growth in active addresses and outperformed Ethereum and Solana’s respective increases of 4% and 25%. The network’s daily transactions are also inching towards 7 million for the first time after maintaining at least 6 million transactions through the week. Transactions on Base | Base: DefiLlama Ethereum upgrades will be beneficial for L2s The increased transactions…

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Filed under: News - @ October 21, 2024 10:17 pm