Summary
TLDR: Degen Chain, an Ethereum layer-3 network, achieved the highest transaction per second (TPS) rate in the Ethereum ecosystem with 37.12 TPS, outperforming Base. However, its economic impact is questioned due to low trading volume and average transaction value. Critics argue that TPS metric overlooks the quality of transactions. DEGEN token powers Degen Chain, with a total value locked of $4.5 million and market capitalization of $385.2 million. Designed for low-cost transactions, Degen Chain uses Arbitrum Orbit technology and Base’s settlement layer for scalability.
Key Points
1. Degen Chain has achieved the highest transaction per second (TPS) rate within the Ethereum ecosystem, surpassing other major blockchain contenders.
2. Degen Chain processed 3.2 million transactions in one day with a TPS of 37.12, making it a standout performer in terms of speed.
3. Despite its high TPS, Degen Chain’s economic impact raises questions about the utility of its transactions, with an average transaction value of just around $0.24.