- The Ethereum price front remains relatively quiet, but scaling solutions for the network are experiencing significant growth.
- Recent data indicates a surge not only in Layer 2 networks but also in the lesser-known Layer 3 ecosystems.
- A noteworthy statistic is the new all-time high of 246 TPS recorded on June 16, highlighting the rapidly evolving landscape of Ethereum scaling solutions.
Discover the groundbreaking advancements in Ethereum scaling solutions and their impact on transaction efficiency.
Ethereum Scaling Solutions Achieve New Milestones
The Ethereum ecosystem is witnessing remarkable progress thanks to its scaling solutions. According to L2beat, these networks collectively achieved over 246 Transactions Per Second (TPS) on June 16, setting a new record. This surge translates to 21.2 million transactions processed in a single day.
Layer 3 Networks: The Unsung Heroes
Among these advancements, Layer 3 solutions are garnering attention. Particularly notable is Xai, an Arbitrum-based Layer 3 game network developed by Offchain Labs. Xai alone contributed 41% of the total TPS across the Ethereum ecosystem. Meanwhile, Base and Arbitrum secured the second and third positions with 33 TPS and 21 TPS, respectively.
Gaming-Focused Networks on Ethereum
Another prominent player is Proof of Play Apex, focusing on gaming applications. It achieved 15.96 TPS, securing the fourth position. However, despite their impressive TPS contributions, both Xai and Proof of Play Apex have relatively low Total Value Locked (TVL). Xai has $1.38 million in TVL, while Proof of Play Apex has approximately $695,000.
TVL vs. TPS: A Discrepancy
In contrast, Arbitrum One and Coinbase’s Base are leading in terms of TVL within the Ethereum scaling solutions. Arbitrum One holds a staggering $17.78 billion in TVL, and Base follows with $7.54 billion. This discrepancy between TPS and TVL highlights the varied contributions and specializations of different scaling networks within the Ethereum ecosystem.
Conclusion
The recent surge in Ethereum scaling solutions, particularly in TPS, showcases the evolving dynamics of the network. As Layer 2 and Layer 3 solutions continue to develop, they promise to enhance transaction efficiency and accommodate a growing user base. However, the discrepancies in TVL among these networks suggest a complex interplay between transaction speed and financial commitment. These developments pave the way for a more scalable and efficient Ethereum network in the future.
