Bitcoin

Base and zkSync Era Outshine Ethereum Mainnet Amidst Bear Market Blues

1 Mins read


Ethereum’s layer-2 solutions are outperforming the blockchain they were designed to bolster. Both Base and zkSync Era have shown remarkable performance so far despite the incessant bear market.

For the first time in history, Base and zkSync Era surpassed Ethereum’s Transactions Per Second (TPS) rate of 10.18 on September 17th.

  • According to data compiled by L2Beat, the Coinbase-incubated layer-2 network achieved a TPS of 12.93, marking an impressive 49.76% increase within just one week.
  • Meanwhile, Matter Labs’ zero-knowledge (zk) rollup tech-powered scaling solution closely followed with a TPS of 12.62.
  • Over the past month, Base has undergone a tremendous surge in terms of activity thanks to the decentralized social media platform Friend.tech. It recently recorded nearly $19 million in trading volume, further pushing network activity on the layer-2 blockchain.
  • So far, Base has attracted approximately $380 million in total assets locked while recording a trading volume of more than $20 million in the past week.
  • Its daily transaction count also hit an all-time high above $1.88 million last week. During the same period, Base saw a decline in average transaction size which displayed an increasing retail adoption and smart contract interactions.
  • Base even entered the top 10 this week, eclipsing the prominent layer-1 network, Solana.
  • Meanwhile, zkSync Era became the first zkEVM to be made publicly available in March after four years in development, facilitating faster and cheaper transactions. Since then, its TVL has increased to $419 million.
SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.


Source link

Related posts
Bitcoin

Exploring Crypto’s Most Expensive Assets: The 5, 4, and 3-Digit Clubs

1 Mins read
Throughout bitcoin’s history, the leading crypto asset has traded at five digits per unit for over 28% of its time. In 2022…
Bitcoin

Pepe, Dogwifhat and AlexTheDoge Memecoins Surge 12% Despite Market Falling 10% Overnight

2 Mins read
The cryptocurrency market experienced a 10% decline overnight, while meme coins like Pepe Coin (PEPE), Dogwifhat (WIF), and Alex The Doge (ALEX)…
Bitcoin

More Pain For BTC Incoming? Miners Haven't Capitulated Yet

2 Mins read
There has been increased speculation over a Bitcoin miner capitulation as hash rate increases slow down, operational costs increase, and the asset…

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *