Ethereum’s Layer-2 solution Arbitrum (ARB)$ARB
One has surpassed one billion transactions since its mainnet launch in August 2021. This significant milestone shows that network activity is increasing and is generating excitement in the ecosystem and investors. According to Blockscan data, its competitor Base currently has 755 million transactions, while OP Mainnet follows with 347 million transactions.
Base, the network of cryptocurrency exchange Coinbase, is the leader in the number of daily transactions, according to data from The Block, while Arbitrum is in second place. According to DeFiLlama data, Arbitrum continues to be the leader among Layer-2 solutions with a total value locked (TVL) of $2.5 billion. Arbitrum is followed by Base with $2.2 billion.
Developed by Offchain Labs, Arbitrum is an off-chain computing network that enables faster and more cost-effective transactions while maintaining the security of the Ethereum blockchain. Arbitrum One includes active proof-of-fraud and a security mechanism against transaction challenges, but has not yet gone completely permissionless.
Offchain Labs operates several Layer-2 networks on Ethereum, each with its own ecosystem. The first network, Arbitrum One, acts as the main chain.
These important developments in Arbitrum have not yet been fully reflected in prices. However, ARB can be expected to rise if the Tier-2 trend begins, BTC surpasses $65,000, or BTC dominance declines.
