- Coinbase Base blockchain hits 16 TPS, marking rapid growth.
- Base pioneers self-tokenization with “keys” through the Friend.tech app.
Two weeks back, Coinbase, the leading US-based cryptocurrency exchange, officially launched its decentralized blockchain, Base. This development marked a significant milestone as it became the first publicly traded company to introduce its proprietary blockchain.
Since its unveiling, Base has been swiftly gaining momentum, systematically fulfilling its objectives. Reflecting on it, Base scaling has soared to 5.10X over a mere seven days as of August 21. On this day, the Layer-2 (L2) average Transactions Per Second (TPS) reached an impressive 54.05, while Ethereum’s average TPS stood at 11.70. The Total Value also hit a high L2 Avg. TPS of 15.88, compared to Ethereum’s average TPS of 11.70.
Brian Armstrong expressed his enthusiasm by tweeting “@BuildOnBase hit 16 transactions per second yesterday, largely due to @friendtech but still – incredible growth.” The application Friend.tech, built on Base, offers a novel way for users to manage their online presence. Enabling users to tokenize their identity by buying and selling “keys” (formerly known as “shares”) of themselves to followers, the platform was officially launched on August 10.
Jesse Pollak, the creator of Base, also shared his excitement. He stated that he is proud to see Coinbase’s Base exceeding ethereum transactions. Meanwhile the community shows support by saying that this accomplishment underscores Base’s rapid adoption and transformative potential in the blockchain landscape.
