Solana rival Base hits 400 TPS claims core contributor

According to Jesse Pollak, the head of protocols at Coinbase’s Ethereum layer-2 network Base, the platform has recently processed a large number of transactions per second.

On April 9, Pollak, the founder of Base, shared on X that the platform handled up to 300-400 transactions every second without encountering any problems.

Despite having real-time transactions per second (TPS) of 26.8 and a peak TPS of 292, as reported by Chainspect, the layer-2 blockchain supported by Coinbase is capable of processing.

On April 8, the layer-2 analytics platform L2Beat announced that Base processed an average of 37 transactions every second at its peak. This figure is over two times greater than Ethereum’s transaction rate of 14 per second.

Solana rival Base hits 400 TPS claims core contributor

If Pollak’s findings about X are true, according to an anonymous trader named Wazz, the network might be able to handle transactions at a comparable speed to Solana.

“Correct me if I’m wrong but if true then Base is now doing the same TPS as Solana.”

“According to Wazz’s estimation, about 60% of Solana’s claimed transaction throughput of 1,000 transactions per second were unsuccessful. Consequently, the true TPS was likely around 400.”

The CEO of Helius Labs, which runs on the Solana platform, challenged Pollak’s numbers regarding transactions per second (TPS). According to Mert Mumtaz, Pollak’s base figure didn’t take into account failed transactions.

The largest Base block in the given data experienced a failure rate of 94% for transactions, thereby delivering a true Transactions Per Second (TPS) value of approximately 41.

Solana rival Base hits 400 TPS claims core contributor

Amid increasing debates between supporters of Ethereum’s layer-2 scaling methods and backers of the Solana network, new research emerges. Lately, Solana has faced criticism for subpar user experiences, failed transactions, and other dependability concerns.

Previously, Mumtaz argued that the problems Solana is experiencing now aren’t rooted in its fundamental design, but rather in a particular glitch affecting its networking protocol implementation.

On April 9, according to CryptoMoon’s report, some launches of projects built on the Solana network have been postponed because of persistent network traffic.

In the past few months, there has been a significant increase in network usage at the Base, mainly due to the growing popularity of meme coins causing a frenzy.

On April 9, the amount of assets secured on the Base network reached a new peak of $1.5 billion, based on DeFiLlama’s latest figures. This signifies a significant jump of 235% compared to the beginning of the year, as memecoin enthusiasts swarmed the network.

Solana rival Base hits 400 TPS claims core contributor

Among the rush of investors chasing after the newest meme coins, a thorough examination conducted on Base revealed that more than 90% of these new coins contained at least one security weakness, and a disconcerting 17% were identified as outright fraudulent schemes.

Read More

2024-04-10 08:45