Compared to Ethereum and Base, which have average transaction values of $1,867 and $170, respectively, Degen Chain’s average transaction value is significantly lower at $0.27.
Over the past 24 hours, Degen Chain, a recent addition to the Ethereum ecosystem, achieved the highest transaction per second (TPS) rate among the Ethereum Layer 3 networks.
On the final day, Degen's transactions per second (TPS) surged more than 68% to 37.12 TPS, outpacing the underlying blockchain, Base's 30.81 TPS. report – Artist: L2BEAT
Arbitrum One, Ethereum, and zkSync Era occupied the top five positions in the ranking.
Multiply Degen’s 35.7 TPS by 86,400 seconds in a day, and the memecoin chain processed a total of 3.08 million transactions during that period.
Despite its high transaction throughput, Degen Chain ranked 41st out of 66 blockchains with a trading volume of only $846,191 on the last day. tracked By CoinGecko.
Despite being widely used in measuring blockchain scalability limits, transactions per second (TPS) is considered a flawed metric by many industry leaders.
This is because TPS does not take into account the computational size of each transaction. Computation size can vary significantly and affect overall network performance. This oversight suggests that TPS alone may not fully represent the capacity and efficiency of blockchain.
The Degen (DEGEN) token was originally conceived as a tipping token for users who join Degen's channels on the Farcaster platform, but it has evolved beyond its original purpose.
It currently serves as the main currency for meme coins that have migrated to their own blockchain ecosystem.
according to According to CoinGecko, Degen Chain currently has a total of $4.1 million locked up, while the market capitalization of the DEGEN token, which is only three months old, is $326 million.
Considered an ultra-low-cost, application-specific layer 3 blockchain, Degen Chain is built using Arbitrum Orbit and leverages the settlement layer of Ethereum’s layer 2 scaling solution, Base.
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