Ethereum

Value

Arbitrum

Base

Billion

Arbitrum One, a Layer 2 bullish rally for Ethereum, has reached a major milestone by surpassing 1 billion transactions since its mainnet launch in August 2021. 
This success in three years reflects Arbitrum's growing dominance in the Tier 2 space. 
According to Blockscan data, Arbitrum’s Coinbase-incubated rival Base recorded 755 million transactions, while OP Mainnet recorded 347 million. While Base currently leads in daily transaction volume, Arbitrum is in second place. 
Despite the competition, Arbitrum holds the highest total value locked (TVL) among Tier 2 networks at $2.5 billion, according to DeFiLlam. Base follows closely behind with $2.2 billion in TVL. 
Developed by Offchain Labs, Arbitrum One uses optimistic aggregation technology to enable faster and more cost-effective transactions while securing transactions via the Ethereum blockchain. 
The system assumes transactions are valid by default and only validates them when a challenge is made, reducing the computational load on Ethereum and lowering the cost of transactions. 
Arbitrum One operates with a security mechanism that allows for active fraud proofs and transaction challenges, but the platform is still in its early stages and is not yet fully permissioned. 
Offchain Labs also operates a second Layer 2 network, Arbitrum Nova, which uses the AnyTrust protocol for off-chain data availability and aims to scale decentralized applications. 
In October 2023, Offchain Labs released Orbit, a development toolkit for Layer 3 blockchain creation. 
This tool allows developers to launch their own blockchains by deploying on Arbitrum One or Arbitrum Nova, further expanding the ecosystem of Layer 2 and Layer 3 chains built on Ethereum. 
With its continuous innovations and strategic developments, Arbitrum continues to be a major player in the Ethereum scaling space. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/the-project-with-the-highest-locked-value-among-ethereum-layer-2s-exceeded-1-billion-in-transaction-volume-here-are-the-details/">The Project with the Highest Locked Value Among Ethereum Layer 2s Exceeded $1 Billion in Transaction Volume! Here Are the Details</a>

The Project with the Highest Locked Value Among Ethereum Layer 2s Exceeded $1 Billion in Transaction Volume! Here Are the Details

Bitcoin Sistemi EN

Other articles published on Oct 1, 2024

Trader Turns $6.2M into $17.5M Thanks to Bitcoin Price Boom

QCP Capital Predicts Bitcoin Breakout to $78K in ‘Uptober’ Rally

XRP Whales Double Down as UNITS 100X Growth Incoming

Binance Confirms Support for Lumia Token Swap Ahead of New Chain Launch

Sui Breaks $1B in TVL, Surpassing Polygon, Optimism

Bullish Uptober Expectations Pumps as Global Liquidity Index Breaks Out, Analyst Shares Bullish 1...

Join our free newsletter for daily crypto updates!