Arbitrum and Optimism (OP), two Layer22 scaling solutions working to scale Ethereum, have overtaken ETH in terms of combined transactions.
On Tuesday, Arbitrum and Optimism processed a combined 1.12 million transactions, while Ethereum mainnet settled 1.02 million.
Both Arbitrum and Optimism are optimistic rollups using fraud proofs to scale Ethereum. They both take large amounts of transactions off-chain, put them in batches, and send the batches back to Ethereum mainnet for confirmation, significantly reducing gas fees.
Optimism has also flipped Arbitrum for the first time in terms of transaction volumes and daily active addresses. Arbitrum doesn’t have a token yet, while Optimism does.
However, Arbitrum remains the Layer-2 protocol with the biggest total value locked (TVL). According to data from L2Beat, Arbitrum One has a TVL of $2.33 billion, while Optimism has $1.27 billion. Together the two protocols have a market share of over 80%.
A spike in activity on Layer22 networks has been seen since October of last year when all L2s overtook Ethereum in terms of transactions per second (TPS). Layer-2s are currently doing 18.91 TPS compared to Ethereum’s 12.28 TPS, according to L2Beat.
Arbitrum and Optimism are two of the largest Ethereum Layer-2 scaling solutions. Users migrating to them is encouraging since both allow for much higher throughput than Ethereum mainnet for lower fees.
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- Source: https://dailycoin.com/layer-2s-arbitrum-and-optimism-op-flip-ethereum-eth-in-combined-transactions/