Layer-2 network for Coinbase Data from blockchain explorer BaseScan shows that Base has broken its previous record for daily transactions since its introduction in August.
The layer-2 blockchain reached 1.88 million transactions on September 14, breaking its previous high of 1.41 million transactions set on August 21,the day the network was established. The layer-2 network outperformed competing chains Optimism and Arbitrum, which recorded a total of 878,000 transactions for the day, in terms of volume.
The layer-2 network has reached the milestone, although it still lags behind more well-known blockchains like Polygon and BNB Smart Chain (BSC). On that day, BSC had 3.1 million transactions, compared to 2.1 million transactions for Polygon.
The layer-2 network did not have as many users as it did on Aug. 21, when the blockchain set a new record for transactions and also reached 136,000 daily active users. According to data gathered by Dune Analytics, Base had only 86,000 daily active users on September 14.
On Aug. 9, Base was formally released, giving users access to numerous functions that may be carried out on layer-2 networks, including the ability to bridge tokens, swap tokens, offer liquidity, issue non-fungible tokens (NFTs), and do many other tasks.
The cryptocurrency community has embraced the network since its debut. On September 6, more than 268,000 different wallets on the layer-2 network produced over 700,000 NFTs. With 130,000 different wallets using it everyday, approximately $242 million worth of cryptocurrency assets were bridged to the blockchain during its first two weeks.