According to statistics recorded on Tuesday and Wednesday of this week, the number of transactions on the layer 2 scaling project Arbitrum exceeded that of Ethereum. On Wednesday, Arbitrum processed 1,090,510 transactions compared to Ethereum’s 1,080,839 transfers.
Daily transfers on L2 scaling solution Arbitrum surged
Layer 2 (L2) scaling networks have become popular over the last two years as secondary chains allow users to trade faster and pay fewer fees. 39 days ago, in mid-January 2023, L2 networks Optimism and Arbitrum’s combined daily trading volume exceeded Ethereum’s daily trading volume. However, the number of transactions subsidedand ETH‘s transfer count exceeded both networks’ counts until February 21, 2023.
statisticsshow that Arbitrum’s daily transaction count surged this week, surpassing Ethereum’s for the first time on Tuesday; on February 21, 2023, Arbitrum processed 1.1 million transactions, compared to Ethereum’s 1.08 million transactions, compared to Ethereum’s 1.08 million. The next day, Wednesday, Arbitrum processed 1.09 million transactions, compared to Ethereum’s 1.08 million, again surpassing Ethereum.
Abitrum tweetedon social media about the watershed moment.” For the first time ever, Arbitrum One processed more transactions than Ethereum.” The official Twitter account of Arbitrum said. This is a huge milestone achieved by our team and Arbitraunt. We have come a long way as a community and we thank you for walking with us, our mission to scale Ethereum continues.”
The increase in arbitram transactions came at a time when Ethereum’s network transactions are rising significantly. According to statistics, on Thursday, the average fee to transact on the Ethereum blockchain is 0.0041 , ETHor$6.87 per transactionand the median is 0.0017ETH. The median is $0.0017ETH, or$2.84 per transfer. On the same day, the average commission on arbitrum transactions is $0.307 per transfer and $0.3601 per transaction for optimism.
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