In the crypto world, scalability is one of the most pressing issues facing blockchain networks. Ethereum, the second-largest cryptocurrency by market capitalization, has been adopting a rollup-focused roadmap to improve its scalability. It looks like this is starting to pay off.
#arbitrationTier 2 is better than #Ethereum daily trading volume $ARB $ ether https://t.co/Lep3zIfOCB
— Kyptos (@azcoinnews) April 30, 2023
Recently, Ethereum layer 2 scaling protocol Arbitrum (ARB) has shown an advantage over ETH in terms of total transaction volume executed. According to a tweet from the Arbitrum team, Arbitrum One and Arbitrum Nova both process more transactions than Ethereum in 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.
This is an important milestone for both Ethereum and Arbitrum. It shows that Ethereum’s rollup-centric roadmap is working well, and layer 2 scaling solutions become more feasible. It also proves that Arbitrum is a strong contender for improving the scalability of Ethereum.
But Arbitrum is not alone in this race. There are several other layer 2 networks on the Ethereum mainnet that are also functioning well. Along with Arbitrum, Optimism (OP), Polygon zkEVM, zkSync and Loopring (LRC) are some of the other best performing L2s on the market today.
The competition between these Layer 2 networks is heating up, and it’s a battle to look forward to. As more and more people start using cryptocurrencies, scalability will become a focus. Layer 2 networking will play an important role in solving this problem, and it is exciting to see the tremendous progress being made in this area.
- Determine why and how Arbitrum topples Ethereum in this regard
- Arbitrum Allocates Over 90M ARB To 125 DAOs – Can Token Price Hit $1.6?
according to Kyptos