Ethereum layer-2 protocols are processing transactions faster than ever, with Coinbase’s BASE at the forefront of this progress.
According to data from growthepie.xyz, the cumulative transaction throughput for layer 2s has skyrocketed to 29.64 million gas units per second (Mgas/s), the highest pace ever recorded. BASE leads the way, accounting for 67% of the total. Gas is the fee users pay to conduct a transaction.
Layer-2 protocols are scaling solutions built on top of primary blockchains like Ethereum, and are designed to handle a higher volume of transactions at lower cost. The metric of millions of gas units per second reflects the number of transactions the network processes each second.
This surge in throughput comes amid concerns that sustained demand for layer 2 solutions could quickly exhaust available capacity.