Ethereum layer-twos reportedly processing more transactions than BTC

Ethereum layer-twos reportedly processing more transactions than BTC

Layer-two scaling protocols for Ethereum have surged in adoption in recent months as gas prices climb again, and the L2 ecosystem is now processing more daily transactions than the Bitcoin network according to recent findings.

According to CoinMetrics data collated by industry analyst and Week In Ethereum News founder Evan Van Ness, there were more transactions on Ethereum layer-two than on the Bitcoin network on Sept. 6. Layer-two protocols processed around 250,000 transactions for the day whereas there were around 210,000 on BTC.

Fun fact:

There are already more daily transactions on Ethereum’s layer2 (~250k) than on Bitcoin (~210k yesterday per @coinmetrics) $ETH layer2 is just getting started

Trending: Tennessee teen fatally shot mom after she took his phone

— Evan Van Ness (@evan_van_ness) September 6, 2021

The analyst revealed that StarkWare processed the most for the period with around 143,000 transactions across a number of DeFi platforms such as the dYdX exchange, and the L2 NFT platform Immutable X.

Arbitrum, which launched to mainnet on Sept. 1, had around 56,000 transactions. Its newly launched Arbitrum

Continue reading

You Might Like


Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report •
Thanks for sharing!
Send this to a friend