Ethereum’s Layer-2 Solutions Surpass Ethereum’s TPS Rate
Ethereum’s layer-2 solutions, Base and zkSync Era, are performing exceptionally well despite the current bear market. These scaling solutions have exceeded Ethereum’s Transactions Per Second (TPS) rate of 10.18 for the first time in history.
Base Achieves Impressive TPS Increase
Base, a layer-2 network incubated by Coinbase, has achieved a remarkable TPS of 12.93 according to data compiled by L2Beat. This marks a significant 49.76% increase within just one week. The surge in activity on Base can be attributed to Friend.tech, a decentralized social media platform, which has contributed to nearly $19 million in trading volume on the network.
Base Attracts Significant Assets and Trading Volume
Base has attracted approximately $380 million in total assets locked and recorded a trading volume of over $20 million in the past week. The network’s daily transaction count reached an all-time high of over 1.88 million, indicating increasing retail adoption and smart contract interactions.
Base Overtakes Solana in Rankings
In an impressive feat, Base has entered the top 10 rankings this week, surpassing Solana, a prominent layer-1 network.
zkSync Era Enables Faster and Cheaper Transactions
zkSync Era, powered by Matter Labs’ zero-knowledge (zk) rollup technology, is another layer-2 solution that closely follows Base with a TPS of 12.62. It became the first zkEVM to be publicly available in March after four years of development. Since then, its Total Value Locked (TVL) has increased to $419 million.
Hot Take: Ethereum’s Layer-2 Solutions Drive Innovation and Adoption
Ethereum’s layer-2 solutions, Base and zkSync Era, have proven their capabilities by surpassing Ethereum’s TPS rate. These scaling solutions not only enable faster and cheaper transactions but also attract significant assets and trading volume. The success of these layer-2 networks highlights the potential for innovation and adoption within the Ethereum ecosystem. As the crypto market evolves, layer-2 solutions will play a crucial role in addressing scalability challenges and enhancing user experience.
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