Arbitrum’s Layer-2 Outdoes Ethereum with Daily Transaction Volumes
In the world of cryptocurrencies, scalability is one of the most pressing issues that blockchain networks face. Ethereum, the second-largest cryptocurrency by market capitalization, has been working on a rollup-centric roadmap to improve its scalability. And it looks like it’s starting to pay off.
Recently, Ethereum’s Layer-2 based scaling protocol, Arbitrum (ARB), demonstrated its superiority over the latter network in terms of the total number of transactions executed. According to a tweet from the Arbitrum team, both Arbitrum One and Arbitrum Nova processed more transactions than Ethereum on a single day. Specifically, Arbitrum One processed 1.26 million transactions, while Arbitrum Nova processed 1.18 million transactions. Ethereum, on the other hand, only processed 939,000 transactions.
3/5 Ecosystem Milestones:
Yesterday both Arbitrum One (1.26m) and Arbitrum Nova (1.18m) processed more transactions than Ethereum (939k).
We’re witnessing Ethereum’s rollup-centric roadmap play out in real-time, and that’s a huge milestone for both @arbitrum and @ethereum.
— Arbitrum (💙,🧡) (@arbitrum) April 28, 2023
This is a significant milestone for both Ethereum and Arbitrum. It shows that Ethereum’s rollup-centric roadmap is working, and that layer-2 scaling solutions are becoming more viable. It also demonstrates that Arbitrum is a serious contender in the race to improve Ethereum’s scalability.
But Arbitrum is not alone in this race. There are several other layer-2 networks present on the Ethereum mainnet that are also performing well. Optimism (OP), Polygon zkEVM, zkSync, and Loopring (LRC) are some of the other top-performing and functioning L2s in the market today, alongside Arbitrum.
The competition between these layer-2 networks is heating up, and it’s a fight worth watching. As more and more people begin to use cryptocurrencies, scalability will become an even more important issue. Layer-2 networks will play a critical role in solving this problem, and it’s exciting to see so much progress being made in this space.
In conclusion, Ethereum’s layer-2 scaling protocol, Arbitrum, has demonstrated its superiority over the latter network in terms of the total number of transactions executed. This is a significant milestone for both Ethereum and Arbitrum, and it’s exciting to see so much progress being made in the race to improve Ethereum’s scalability. With several other layer-2 networks also performing well, the competition in this space is heating up, and it’s a fight worth watching.
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