According to statistics recorded this week on Tuesday and Wednesday, the number of transactions of the Arbitrum layer two scaling project exceeded that of Ethereum. On Wednesday, Arbitrum processed 1,090,510 transactions, compared to 1,080,839 transfers for Ethereum.
Skyrocketing L2 Scaling Solution Arbitrum Daily Transfers
Layer two (L2) scaling networks have become popular over the past couple of years because side chains allow users to transact faster and pay fewer fees. Thirty-nine days ago, in mid-January 2023, the combined daily transaction count of the L2 Optimism and Arbitrum networks exceeded Ethereum’s daily transaction count. However, the number of transactions has decreased and ETHThe number of transfers from exceeded the number of both networks until February 21, 2023.
Statistics show that Arbitrum’s daily transaction count increased this week and surpassed Ethereum’s for the first time on Tuesday. On February 21, 2023, Arbitrum processed 1.1 million transactions, compared to 1.08 million for Ethereum. The following day, Wednesday, Arbitrum again beat Ethereum by processing 1.09 million, while Ethereum processed 1.08 million.
Abitrum tweeted on the watershed moment on social media. “For the first time ever, Arbitrum One processed more transactions than Ethereum,” said the official Abitrum Twitter account. This is an important step taken by our team and the Arbinauts. We have come a long way as a community and are grateful to have you with us. Our mission to scale Ethereum continues.
The increase in Arbitrum transactions comes at a time when Ethereum network transactions have increased significantly. Statistics show that on Thursday, the average fee for making transactions on the Ethereum blockchain is 0.0041 ETHOr $6.87 per transaction, while the median fee is 0.0017 ETHOr $2.84 by transfer. On the same day, the average fee to complete a transaction on Arbitrum is $0.307 per transfer, while Optimism costs $0.3601 per transaction.
What do you think of the number of daily transfers of Arbitrum exceeding that of Ethereum? Let us know what you think about this topic in the comments section below.
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