that Ethereum Network Popular market expert and Head of Research at the Onchain Foundation, Leon Weidman, continues to demonstrate his incredible position in the crypto space through scalability improvements and confidently declares that this is unstoppable, emphasizing his conviction that the network has the potential to revolutionize the sector.
Ethereum scaling dominates market volatility
In bold nameLeon Weidman, Senior Researcher at Onchain Foundation, has solidified his position in the blockchain space by declaring that the Ethereum network expansion development is unstoppable. His comments come amidst uncertainty and volatility in the market as a whole.
Leon Highlights EthereumDespite challenging economic conditions and changing investor sentiment, notable advances in layer 2 solutions, including rollups, are significantly improving the scalability and efficiency of networks.
It is worth noting that Ethereum Rollups is a layer 2 solution that collects multiple transactions from the Ethereum mainnet, processes them, combines them into a single transaction, and then submits them back to the main chain.
According to the market expert, these rollups are currently processing about 300 or 24.93 times more transactions per second (TPS) compared to the Ethereum main chain. He also noted that the increase in transactions per second indicates: Ethereum It is producing real results even in adverse market conditions.
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Despite all the noise and market volatility, Ethereum’s scaling progress is unstoppable. Rollups are now processing 24.93x more transactions per second (300 TPS) than the ETH main chain, showing that even in turbulent times, this technology is delivering real results.
Ethereum’s scaling network has been steadily increasing since reaching an all-time high of 246.18 TPS in June. This milestone in June was largely driven by a surge in activity around the Xai network, a new layer 3 scaling technology aimed at gaming apps.
According to the report, more than 41% of transactions took place on the Xai network. However, compared to other scaling networks such as: Decision 1 And Xai’s TVL (Total Locked Value) at Base is still very small even after this increase.
Young ETH Layer 2 Surpasses Old Layer 2
As Ethereum layer 2 solutions evolve, Leo Waidmann pointed out There is increasing adoption of younger layer 2 networks like Base over established networks like Arbitrum One.
According to experts, Base network Arbitrum One, backed by Coinbase, has over 2.64 million weekly active users despite being only a year old. In contrast, Arbitrum One, which was launched about three years ago, has fewer active users at 1.37 million.
He also noted that other young networks like Linea and ZkSync Era have gained hundreds of thousands of active users in just over a year and are just getting started. “The future of ETH scaling is here and it’s evolving much faster than the market currently realizes,” he added.
Featured image from Adobe Stock, charts from Tradingview.com