Brian Armstrong, Coinbase CEO, highlighted how Good friend.tech, a decentralized social software, helps to gas the expansion and adoption of his exchange-backed Ethereum (ETH) layer-2 community, Base.
In an Aug. 23 put up on X (previously Twitter), Armstrong, whereas responding to a put up from Coinbase Head of Protocols Jesse Pollack, famous that Base hit a mean of 16 transactions per second (TPS) on Aug. 21, surpassing Ethereum’s transaction depend for a similar timeframe.
Based on the Coinbase CEO, the massive quantity of transactions may very well be tied to the expansion and hype surrounding the Good friend.tech platform.
Good friend.tech’s gorgeous development
Good friend.tech is a decentralized social software that has gained extensive adoption and utilization from the crypto group in lower than two weeks of its launch.
The appliance allows customers to buy and commerce “Keys” related to their associates’ social media profiles. These “Keys” grant unique entry to the consumer’s non-public in-app chatrooms and a stake within the consumer’s token’s worth.
Good friend.tech has swiftly collected a complete quantity of 43,064.8 ETH, equal to over $70 million, by 1.8 million transactions since its inception, in response to Dune Analytics knowledge.
Further insights from DeFillama underscore its exceptional standing as one of many crypto business’s high 5 price turbines, raking in a considerable $5 million within the final week. Notably, this locations it forward of well-established DeFi protocols like MakerDao and even layer1 blockchain networks like Bitcoin.
Whereas Good friend.tech has loved some preliminary success, Evan Van Ness, a distinguished researcher within the Ethereum group, has identified a rising subject. He noticed that the applying was experiencing an growing presence of bots and spammers, making it tough for people with out substantial social media acumen to generate earnings from the platform.
The decentralized software is already having fun with utilization by NBA stars, a number of crypto influencers and has additionally drawn funding from enterprise capital agency Paradigm.
The put up Good friend.tech driving Base transaction spike, Coinbase CEO reveals appeared first on CryptoSlate.
