Ethereum Layer 2 Solutions Yet to Exceed Layer 1 Blockchains
The report indicates that Ethereum scaling solutions and layer 2 solutions have yet to surpass other layer 1 blockchains in terms of real processing speed.
This may be attributed to the lower number of on-chain transactions on Ethereum scaling solutions, resulting in slower realized TPS for these blockchains.
In total, Ethereum and its ten largest scaling solutions achieved a combined real TPS of 500, surpassing BSC but still trailing behind Solana and Sui.
Other scaling solutions that outpaced Ethereum in terms of TPS include Arbitrum (59 TPS), Linea (56 TPS), Base (37 TPS), and Mantle (25 TPS).
Over the past year, 24 out of the 25 blockchains analyzed experienced their highest real TPS, with activity levels reaching new heights.
This surge can be attributed to the rise of inscriptions and memecoin speculation, which have fueled increased on-chain activity.
As reported, the cryptocurrency market has witnessed the launch of over 1 million new tokens since the beginning of April.
Ethereum and Solana, in particular, have been at the forefront of this token frenzy, with Ethereum hosting over 370,000 new tokens and Solana boasting an impressive 640,000 new tokens, mostly consisting of memecoins.
