zkSync Era processed almost as many transactions per second as Ethereum on Sunday.
TVL on zkSync has hit a new high.
There's reason to believe that such activity on zkSync Era is unsustainable.
Ethereum layer 2 projects are one of the most promising scaling solutions that are believed to be the answer to scaling the second-most popular blockchain.
This is increasingly evident as zkSync Era, a zkEVM scaling solution, is processing almost as many transactions per second (TPS) as Ethereum itself.
zkSync Era Closes in on Ethereum in TPS
zkSync Era, a zero-knowledge Ethereum Virtual Machine (zkEVM), is becoming popular by the hour.
On Sunday, zkSync Era almost overtook Ethereum mainnet in transactions per second. zkSync Era processed 10.04 transactions per second, while Ethereum – 10.82, according to data from L2Beat.
TPS on zkSync Era has grown by 26.30% in the past seven days. On Ethereum, TPS has decreased by 6.68% over the same period.
Total value locked (TVL) on zkSync Era has also grown to record highs.
zkSync Era TVL
TPS isn’t the only metric that has increased exponentially on zkSync Era. TVL has also grown substantially.
On Monday, TVL on zkSync Era hit a record high of $628 million, just days after breaking the $500 million mark, according to data from L2Beat. Out of the top 20 Ethereum layer 2s, zkSync Era has seen the largest TVL growth over the past 24 hours with a 21.49% increase.
zkSync Era is currently the third largest Ethereum layer 2 in terms of TVL. Arbitrum ($5.9 billion) and Optimism ($2.26 billion) are the two leading optimistic rollups.
On the Flipside
The high activity on zkSync Era is related to airdrop farming as zkSync has yet to release a token.
zkSync Era’s maximum TPS has so far been 12, while Ethereum’s is 22.37.
Why This Matters
Ethereum layer 2 protocols growing exponentially is a sign Ethereum is giving way to rollups and other types of scaling projects.