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Base surpassed other layer-2 networks like Optimism and Arbitrum in terms of daily transactions but still lagged behind Polygon and BSC. Coinbase layer-2 network Base hit a new peak in terms of daily transactions , breaking its former record when it was launched in August, according to data from blockchain explorer BaseScan.  Daily transactions chart of layer-2 network Base. Source: BaseScan On Sept. 14, the layer-2 blockchain hit 1.88 million transactions , surpassing its previous record of 1.41 million transactions on Aug. 21 — the month when the network was launched. The layer-2 network surpassed other rival chains like Optimism and Arbitrum, which had a combined 878,000 transactions for the day.  Despite reaching the milestone, the layer-2 network is still lagging behind more prominent blockchains like Polygon and BNB Smart Chain (BSC). Polygon had 2.1 million transactions on the date, while BSC had 3.1 million transactions on the same day. Unlike its previous transaction rec...

Many people believe that Bitcoin users typically send their transactions directly to miners or mining pool operators. However, this is actually very uncommon. Instead, users generally broadcast transactions essentially at random — in other words, to whichever nodes happen to be connected to them and online at the time. Usually, a Bitcoin user has no guarantee that a miner will ever see their transaction. They simply hope that random rebroadcasts among volunteer nodes will ping-pong their transaction across the network and eventually, somehow into a miner’s node. This might seem odd and counterintuitive. Why not simply broadcast a transaction directly to a miner as a regular matter of course? Well, the explanation for this curious custom showcases the unique decentralization of the Bitcoin network . A counterintuitive yet effective path to decentralization Miners (or mining pool operators, specifically) select and order transactions within a block. Obviously, these mining operato...

Binance stressed that credit and debit card payments will continue to be accepted and that non-USD bank transfers would still be processed through the SWIFT payment system. Binance has informed its retail customer base of a potential incoming service disruption that may halt on and off-ramp bank payment transfers. The service disruption will impact U.S Dollar-held bank accounts that are looking to buy or sell cryptocurrencies for less than $100,000 via the SWIFT payment system. The disruption will take effect on February 1. Binance announced the news to its “Binancians” by email on January 21, stressing that they’re now “actively seeking” a new SWIFT (USD) partner to avoid service disruptions for future bank payment transfers. The Cryptocurrency Exchange added that this was the banking partner ’s decision and that Binance wouldn’t be the only trading platform impacted by the change: “This is the case for all of their crypto exchange clients. Please be advised that until we are able t...