Ethereum

Orbit

Arbitrum

Base

Billion

Arbitrum One, a Layer 2 solution for Ethereum, has reached a major milestone, surpassing 1 billion transactions since its mainnet launch in August 2021. This achievement highlights Arbitrum’s growing dominance in the Layer 2 ecosystem over the past three years. 
According to Blockscan data, while Base, incubated by Coinbase, has recorded 755 million transactions, and OP Mainnet has processed 347 million, Arbitrum remains a key player. Despite Base currently leading in daily transaction volume, Arbitrum holds second place. 
<h2 id="arbitrum-leads-the-pack-with-over-2-5-billion-in-total-value-locked">Arbitrum Leads the Pack with Over $2.5 Billion in Total Value Locked</h2> 
More significantly, Arbitrum maintains the highest Total Value Locked (TVL) among Layer 2 networks, with $2.5 billion, according to DeFiLlama. Base follows closely with a TVL of $2.2 billion. 
Developed by Offchain Labs, Arbitrum One uses optimistic rollup technology to secure transactions through the Ethereum blockchain while offering faster and more cost-effective solutions. The system assumes transactions are valid by default, verifying them only when challenged, thereby reducing computational load on Ethereum and lowering costs. 
<img loading="lazy" decoding="async" class="alignnone size-full wp-image-20610" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/visual-representing-Arbitrums-success-with-over-25-billion-in-Total-Value-Locked-TVL-and-its-expansion-with-Arbitrum-Nova-and.webp" alt="visual representing Arbitrums success with over 25 billion in Total Value Locked TVL and its expansion with Arbitrum Nova and" width="1792" height="1024" title="Arbitrum One Surpasses $1 Billion in Transactions, Leading the Ethereum Layer 2 Race 8" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/10/visual-representing-Arbitrums-success-with-over-25-billion-in-Total-Value-Locked-TVL-and-its-expansion-with-Arbitrum-Nova-and.webp 1792w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/visual-representing-Arbitrums-success-with-over-25-billion-in-Total-Value-Locked-TVL-and-its-expansion-with-Arbitrum-Nova-and-768x439.webp 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/visual-representing-Arbitrums-success-with-over-25-billion-in-Total-Value-Locked-TVL-and-its-expansion-with-Arbitrum-Nova-and-1536x878.webp 1536w" sizes="(max-width: 1792px) 100vw, 1792px"> 
<h2 id="offchain-labs-expands-with-arbitrum-nova-and-orbit-for-layer-3-development">Offchain Labs Expands with Arbitrum Nova and Orbit for Layer 3 Development</h2> 
Arbitrum One also operates with an active fraud-proof mechanism, though the platform is still in its early stages and has not yet fully transitioned to a permissionless model. Offchain Labs also manages Arbitrum Nova, another Layer 2 network using the AnyTrust protocol to scale decentralized applications by ensuring off-chain data availability. 
In October 2023, Offchain Labs launched Orbit, a development toolkit for creating Layer 3 blockchains. Orbit allows developers to launch their own chains by building on Arbitrum One or Arbitrum Nova, further expanding the ecosystem of Layer 2 and Layer 3 chains built on <a href="https://www.turkishnyradio.com/feds-rate-cuts-set-to-benefit-ethereum-eth-heres-why/" target="_blank" rel="noopener">Ethereum</a>. 
With continuous innovation and strategic development, Arbitrum is solidifying its role as a significant player in Ethereum scaling.

Arbitrum One Surpasses $1 Billion in Transactions, Leading the Ethereum Layer 2 Race

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