One of the most urgent problems that blockchain networks confront in the realm of cryptocurrencies is scalability. The rollup-centric plan for Ethereum, the second-largest cryptocurrency by market capitalization, has been developed to increase its scalability. Additionally, it seems to be beginning to bear fruit.
Arbitrum (ARB), the Layer-2 scaling protocol built on Ethereum, has recently shown to be superior to the latter network in terms of the total number of transactions carried out. The Arbitrum team claimed in a tweet that in a single day, both Arbitrum One and Arbitrum Nova handled more transactions than Ethereum. In particular, 1.26 million transactions were handled by Arbitrum One, and 1.18 million by Arbitrum Nova. 939,000 transactions were processed by Ethereum, in contrast.
For Ethereum and Arbitrum, this marks a critical turning point. It demonstrates that Ethereum’s rollup-centric strategy is effective and that layer-2 scaling solutions are becoming more practical. It also shows that Arbitrum is a strong competitor in the fight to make Ethereum more scalable.
Arbitrum is not, however, the only competitor in this contest. On the Ethereum main net, several other layer-2 networks function well. Along with Arbitrum, some of the other best-performing L2s on the market right now include Polygon zkEVM, zkSync, Optimism (OP), and Loopring (LRC).
These layer-2 networks are engaging in an amusing battle that is worth tracking as the rivalry heats up. Scalability will be a problem that is much more crucial as more people start using crypto. The solution to this issue will mostly depend on layer-2 networks, and it is encouraging to see so much development in this area.
To sum up, Arbitrum, Ethereum’s layer-2 scaling protocol, has shown that it can execute more transactions per second than the latter network. This is a huge turning point for both Ethereum and Arbitrum, and it’s inspiring to see how far the race to increase Ethereum’s scalability has come. As more layer-2 networks start to perform well, the competition in this market is intensifying, making it worth watching.