Optimism and Arbitrum flip Ethereum in combined transaction volume
Ethereum layer-2 on-chain exercise has been rising to the extent that the main two networks now course of extra transaction quantity than mainnet Ethereum.
Layer-2 networks Arbitrum and Optimism have seen a rise in transactions over the previous three months. Comparatively, apart from a couple of spikes, transactions on the Ethereum community have declined by round 33% since late October, in accordance with Etherscan.
This has enabled the 2 L2s mixed to flip Ethereum for this metric, in accordance with Dune Analytics data.
The chart reveals Ethereum processed over 1.06 million transactions on Jan. 10, whereas Arbitrum and Optimism mixed processed over 1.12 million transactions.
Moreover, Optimism has now surpassed Arbitrum by way of day by day transactions following a gentle uptrend in exercise since September.
Layer-2 ecosystem analytics web site L2beat reported all L2 exercise by way of transactions per second (TPS) surpassed that of Ethereum in October, and has remained above it since.
On Jan. 10, Ethereum processed a mean of round 12 TPS, in comparison with the L2’s common of practically 16.5 TPS.
Arbitrum and Optimism mixed signify virtually 80% of the whole layer-2 ecosystem, in accordance with L2beat.
Arbitrum One stays the market chief by way of whole worth locked (TVL) with round $2.34 billion in collateral, giving it a 52.5% market share.
Optimism is in second place with a TVL of $1.28 billion and a 28.6% market share.
Based on Nansen researcher Martin Lee, decentralized finance (DeFi) protocols are one of many key drivers of the adoption of the Optimism chain.
Associated: Can the Optimism blockchain win the battle of the rollups?
Different layer twos resembling zk-rollup StarkNet have additionally been processing extra transactions just lately. StarkWare know-how additionally powers different options together with ImmutableX and dYdX.
In October, it was reported StarkNet was processing extra transactions per week than the Bitcoin (BTC) community.
Moreover, Starkscan reports the community is at an all-time excessive by way of TVL at $5.2 million.
