Base Network attains nearly 2 million daily transactions but still trails Polygon and BSC

Base Network, Coinbase’s layer-2 blockchain, has reached a significant milestone by recording almost 2 million daily transactions, a remarkable feat considering its relatively recent launch. However, it still trails behind leading layer-2 networks like Polygon and Binance Smart Chain (BSC).

According to BaseScan, the blockchain explorer, Base Network recorded a whopping 1.88 million transactions on September 14th, breaking its previous record of 1.41 million transactions on August 21st, the month of its launch. This achievement allowed Base to outpace other competing layer-2 solutions such as Optimism and Arbitrum, which combined for 878,000 transactions on the same day.

Despite this notable accomplishment, Base Network remains in the shadow of more prominent blockchains like Polygon and BSC. On the same day, Polygon recorded 2.1 million transactions, while BSC boasted an impressive 3.1 million transactions.

It’s worth noting that the previous record on August 21st also saw Base Network amass 136,000 daily active users, which was not replicated during this milestone. On September 14th, Base had around 86,000 daily active users, as per data provided by Dune Analytics.

Base Network was officially launched on August 9th, offering users the ability to bridge tokens, swap tokens, provide liquidity, mint nonfungible tokens (NFTs), and engage in various activities typical of layer-2 networks. Since its inception, Base has received a warm reception from the crypto community. On September 6th, more than 700,000 NFTs were minted, involving over 268,000 unique wallets on the layer-2 network. In its initial two weeks, the network facilitated the bridging of over $242 million worth of crypto assets, with 130,000 unique wallets utilizing it on a daily basis.

While Base Network has achieved impressive transaction numbers, its competition with established layer-2 networks remains fierce, suggesting that it will need to continue innovating and expanding its user base to solidify its position in the rapidly evolving blockchain landscape.