Base, the layer-2 network backed by Coinbase on Ethereum, has achieved significant transaction throughput, reaching up to 300–400 transactions per second (TPS) without encountering issues, according to Jesse Pollak, the firm’s head of protocols.
just saw a few minutes of ~300-400 tps on @base with no issues pic.twitter.com/9O2IrEqX6c
— Jesse Pollak (jesse.xyz) 🛡️ (@jessepollak) April 9, 2024
Although data from Chainspect indicates a real-time TPS of 26.8 and a maximum recorded TPS of 292 for Base, L2Beat reported that the average TPS peaked at 37 on April 8, surpassing Ethereum’s 14 TPS by more than double.
Responding to Pollak’s announcement, pseudonymous trader Wazz suggested that Base’s TPS figures were comparable to Solana’s network. He noted that around 60% of Solana’s reported 1,000 TPS were failed transactions, indicating a practical TPS closer to 400.
Correct me if I'm wrong but if true then @base is now doing the same TPS as Solana
Considering Solana is averaging 1K non-vote TPS and 60% of those txs included in blocks are failed TXs. So actual TPS is around 400
If true $ETH is already faster than $SOL
Very impressive https://t.co/vLVs1TiQAT pic.twitter.com/X2EnUrfieB
— Wazz (@WazzCrypto) April 9, 2024
However, Mert Mumtaz, CEO of Solana-based Helius Labs, raised doubts about Base’s claimed TPS figures, highlighting the absence of failed transactions in the reported data. He pointed out that a significant portion of Base blocks contained failed transactions, resulting in a lower real TPS of 41.
The comparison between Base and Solana comes amid escalating tensions between Ethereum layer-2 scaling solutions and Solana’s network. Solana has faced criticism in recent weeks due to user experience issues, transaction failures, and reliability concerns.
Base has experienced a surge in network activity fueled by the memecoin frenzy, with its total value locked (TVL) reaching a record high of $1.5 billion on April 9, marking a 235% increase since the beginning of the year, according to DeFiLlama.
However, an analysis of new memecoins on Base revealed that over 90% had security vulnerabilities, with 17% identified as scams.
