SocialFi Dapp Farcaster Plans to Launch its Own Chain to Improve Scalability

Decentralized social networking platform Farcaster said it plans to launch its own Ethereum Layer 2. Snapchain is a new data layer set to enter a testing phase this month with a public launch expected in early 2025. The blockchain promises to handle over 10,000 transactions per second (TPS) and support millions of daily users, Farcaster Co-Founder Varun Srinivasan explained in a post on X . Farcaster is built on Base Chain, an Ethereum Layer 2 developed by the Coinbase exchange and based on the OP Stack. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io