Coinbase-backed Ethereum layer-2 network Base has achieved impressive transaction per second (TPS) throughput, reaching as high as 300-400 TPS with no issues, according to Jesse Pollak, the firm’s head of protocols. However, Chainspect reported that the real-time TPS of Base is 26.8, with a maximum recorded TPS of 292. L2Beat, a layer-2 ecosystem analytics platform, stated that Base’s average transactions per second peaked at 37 on April 8, more than double Ethereum’s 14 TPS.
In response to Pollak’s observations, Wazz, a pseudonymous trader, suggested that if Base’s TPS is accurate, it could be similar to the Solana network. Wazz also mentioned that around 60% of Solana’s reported 1,000 TPS were failed transactions, bringing the actual TPS closer to 400. However, Mert Mumtaz, CEO of Solana-based Helius Labs, questioned Pollak’s TPS figures, arguing that failed transactions were not included in the Base figures. He pointed out that the largest Base block had 94% failed transactions, resulting in a real TPS of 41.
These findings come at a time when tensions are rising between Ethereum layer-2 scaling solutions and the Solana network. Solana has faced complaints of degraded user experience, failing transactions, and other reliability issues. Mumtaz previously claimed that Solana’s problems are not due to a fundamental design flaw but rather a specific implementation bug in the networking protocol. Additionally, several Solana project launches have been delayed due to ongoing network congestion.
Base has experienced a significant increase in network activity, driven by the popularity of memecoins. The total value locked (TVL) on the Base network reached an all-time high of $1.5 billion on April 9, indicating a 235% increase since the beginning of the year as memecoin enthusiasts flocked to the network. However, an in-depth analysis of new memecoins on Base revealed that over 90% had at least one security vulnerability, with 17% being outright scams.