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kripcat.eth 🎩
@kripcat.eth
So Base has about 25% of the active addresses of Solana, but only 3% of Solana's daily transaction count. So, roughly, each Base wallet is making 5 transactions per day but every Solana wallet is making 41 transactions per day? What the hell are those guys doing over there?
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shazow
@shazow.eth
Keep in mind that SVM is designed to facilitate many transactions per action (eg. CLOB swap can be tens of txns), whereas EVM pushes to one txn per action (eg. AMM swap is always one txn). This is one of many reasons why TPS is a bad metric.
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kripcat.eth 🎩
@kripcat.eth
TIL, would be interested to read more about this, do you have any good reads on the topic? Wondering what advantages this confers on the user? Why would I want to do tens of transactions at once? Also do you have suggestions for a better metric to compare activity between chains?
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shazow
@shazow.eth
That's just how CLOBs work, similar to traditional brokerages. There's a bunch of orders in the orderbook, and when you make an opposing order it is matched against a bunch of orders. So one order could consume any number of opposing orders. Like, if ten people want to sell 1 foo, and I want to buy 10 foo, that can be 10 transactions. This was just part of the early thesis of Solana, high TPS/cheap transactions so that people could build CLOB exchanges (e.g. FTX's Serum). Now that transactions are getting more expensive, AMMs are becoming more popular there too. "Fair" benchmarking is a hard challenge, because it kinda depends on design of what you're comparing. Perhaps "intent" level benchmarking is the way to go? But we don't have great data on this (and intents don't exist everywhere yet).
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