- 1.26 million transactions were handled using the Arbitrum One protocol last week.
- Along with a large volume of transactions, Arbitrum also introduced many novel protocols.
In its most recent performance report, 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 the company’s most recent tweet, 1.26 million transactions were handled using the Arbitrum One protocol last week. The Arbitrum Nova layer handled 1.18 million transactions over the period mentioned, which may or may not be a coincidence. When compared to the main Ethereum protocol, which processed only 939,000, these numbers are staggering.
Ethereum is the largest smart contract platform in the cryptocurrency ecosystem. And is often regarded as the most performant blockchain network. Despite its continued preeminence, it has poor transaction throughput and prohibitive transaction costs.
Prominent Layer-2 Network Race
Despite the recent switch to the Proof-of-State (PoS) consensus model, Ethereum’s scalability is poor. As a result of this weakness, Layer-2 protocols like Arbitrum gained popularity. There has been a public conflict between the L2 protocols, but the most recent data suggests that Arbitrum remains on top. Arbitrum reported not just a large volume of transactions but also the introduction of many novel protocols.
It also highlighted the establishment of a job portal to enable its ecosystem’s developers to find talented programmers to work on their projects.
The real fight to keep an eye on at the moment is between the layer-2 networks present on the Ethereum mainnet, even if there are a number of so-called Ethereum killers in the blockchain ecosystem. Optimism (OP), Polygon zkEVM, zkSync, and Loopring (LRC) are some of the other top-performing and functioning L2s in the market today, along with Arbitrum.
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