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- 1.26 million transactions were processed via the Arbitrum One protocol last week.
- In addition to a high transaction volume, Arbitrum also launched several innovative protocols.
In its latest performance report, Arbitrum (ARB), a Layer-2 scaling solution for Ethereum, showcased its dominance over the main network regarding the total number of transactions completed.
3/5 Ecosystem Milestones:
Yesterday, both Arbitrum One (1.26m) and Arbitrum Nova (1.18m) executed more transactions than Ethereum (939k).
We are observing Ethereum’s rollup-focused roadmap unfold in real-time, marking a significant achievement for both @arbitrum and @ethereum.— Arbitrum (
,
) (@arbitrum) April 28, 2023
,As per the latest tweet from the company, 1.26 million transactions were processed through the Arbitrum One protocol last week. The Arbitrum Nova layer managed 1.18 million transactions during the same timeframe, which may or may not be coincidental. In contrast, the primary Ethereum protocol only handled 939,000 transactions, making these figures quite remarkable.
Ethereum stands as the largest smart contract platform within the cryptocurrency landscape and is frequently viewed as the most efficient blockchain network. However, despite its ongoing dominance, it suffers from limited transaction throughput and high transaction fees.
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Notable Layer-2 Network Competition
Even after the recent transition to the Proof-of-Stake (PoS) consensus mechanism, Ethereum’s scalability remains inadequate. This limitation has led to the rise in popularity of Layer-2 solutions like Arbitrum. Although there has been public competition among L2 protocols, the latest data indicates that Arbitrum continues to lead. Arbitrum not only reported a significant transaction volume but also the rollout of various innovative protocols.
Additionally, it emphasized the creation of a job portal to assist developers within its ecosystem in finding skilled programmers for their projects.
The current competition to monitor is among the layer-2 networks operating on the Ethereum mainnet, despite the presence of several so-called Ethereum challengers in the blockchain space. Other leading and operational L2s in the market today include Optimism (OP), Polygon zkEVM, zkSync, and Loopring (LRC), alongside Arbitrum.
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