Ethereum Layer 2 Scaling Sees Record High, Base Emerges as Dominant Solution

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Ethereum’s Layer 2 (L2) ecosystem has been making significant strides in scaling, leading to a surge in the number of transactions per second (TPS). Among the various L2 solutions, one platform stands out for its impressive performance metrics – Base.

According to data from L2 Beat, Ethereum scaling reached an all-time high at the beginning of April, with the transaction count surpassing 156, marking a new record. The scaling metric rose to approximately 11.2, indicating that L2 handled more transactions than the Ethereum mainchain. Although the transactions per second (TPS) slightly decreased to around 147 at the time of writing, the overall scaling trend has remained upward, standing at about 11.3.

When it comes to dominance in the Ethereum Layer 2 space, Base has emerged as a prominent solution. As per data from IntoTheBlock, it boasts the highest number of active addresses among L2 platforms, with approximately 890,000 active addresses. Moreover, Base’s transaction volume has surpassed $1.6 billion, three times more than its closest competitor, Optimism. On the 2nd of April, the network processed a staggering 2.6 million transactions.

However, in terms of Total Value Locked (TVL) and Transactions Per Second (TPS), data from L2 Beat reveals that Base lags behind other L2 networks.

Despite the increased activity on Ethereum’s Layer 2 solution, fees have remained relatively low. As of the time of writing, the total fee on Ethereum was over $13.4 million. This decline in fees can be attributed to a significant network upgrade and lower gas prices on L2 networks starting from the 13th of March.

As the market continues to fluctuate, Ethereum has proven itself to be resilient. The altcoin closed the previous trading session with a profit, experiencing a less than 1% decrease. With Ethereum’s Layer 2 scaling achieving new heights and Base emerging as a dominant solution, the future looks promising for Ethereum and its users.

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Ethereum’s Layer 2 (L2) ecosystem has been experiencing significant growth in scaling, resulting in a surge in the number of transactions per second (TPS). As per data from L2 Beat, Ethereum scaling reached a new all-time high in early April, with the transaction count surpassing 156, marking a new record. The scaling metric rose to approximately 11.2, indicating that L2 handled more transactions than the Ethereum mainchain. Although the TPS slightly decreased to around 147 at the time of writing, the overall scaling trend remains upward, standing at about 11.3 (source).

When it comes to dominance in the Ethereum Layer 2 space, Base has emerged as a prominent solution. According to data from IntoTheBlock, Base boasts the highest number of active addresses among L2 platforms, with approximately 890,000 active addresses. Moreover, Base’s transaction volume has surpassed $1.6 billion, three times more than its closest competitor, Optimism. On the 2nd of April, the network processed a staggering 2.6 million transactions (source).

However, Base lags behind other L2 networks in terms of Total Value Locked (TVL) and Transactions Per Second (TPS) according to data from L2 Beat.

Despite increased activity on Ethereum’s Layer 2 solution, fees have remained relatively low. The total fee on Ethereum was over $13.4 million at the time of writing. This decrease in fees can be attributed to a significant network upgrade and lower gas prices on L2 networks starting from the 13th of March (source).

As the market continues to fluctuate, Ethereum has proven itself to be resilient. The altcoin closed the previous trading session with a profit, experiencing a less than 1% decrease. With Ethereum’s Layer 2 scaling achieving new heights and Base emerging as a dominant solution, the future looks promising for Ethereum and its users.