Ethereum TPS hit a record 246.18 on June 16, led by Xai with 101.72 TPS.
Xai contributed over 41% of Ethereum’s layer-2 and layer-3 transactions.
Arbitrum One and Base dominate by TVL, securing $18B and $7.6B.
The Ethereum scaling ecosystem has reached a new peak in its combined transactions per second (TPS), achieving an unprecedented rate of 246.18 TPS as of June 16. This surge is primarily attributed to the emergence of Xai, a new layer-3 scaling solution that specializes in gaming applications.
Xai Dominates with Rapid TPS Increase
Xai, powered by Offchain Labs, has seen a dramatic increase in transaction processing speed, recording a TPS of 101.72 on the reported day. This accounts for over 41% of the total transactions processed across Ethereum’s layer-2 and layer-3 networks. The significant rise from a TPS of approximately one just a week earlier highlights Xai’s rapid adoption and performance improvement.
Ethereum scaling solutions are hitting new highs! With a surge to an all-time high in TPS, innovative solutions like Starknet are showing massive potential. As the ETH ecosystem expands, scalability solutions are essential for unlocking its full potential. pic.twitter.com/F0GVwfR2Wp
— Bert of B | Web3 Marketing and Growth Leader (@BertBlancheton) June 17, 2024
Comparative Analysis of Ethereum Scaling Solutions
Other notable platforms in the ecosystem include Base and Arbitrum, which recorded TPS rates of 33 and 21, respectively. While Xai and another gaming-focused layer-3 solution, Proof of Play Apex, also managed by Offchain Labs, show promising transaction speeds, their total value locked (TVL) stands modestly at $1.38 million and $695,000, respectively. In contrast, established solutions like Arbitrum One and Base boast much larger TVLs, securing $18 billion and $7.6 billion, indicating their dominant position in the market.
This recent development marks a significant step forward in Ethereum’s scaling efforts, reflecting the growing efficiency and capacity of the network to handle a higher volume of transactions seamlessly.
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