The world’s largest altcoin, Ethereum, despite its sheer dominance, has faced a lot of criticism given its limited transactions per second (TPS). This has often contributed to a massive surge in gas prices thanks to network congestion.
And, this is exactly where Layer 2 (L2) solutions enter the picture.
On-chain activity for leading Layer 2 networks have been on a downtrend lately. The fall in on-chain activity is likely to be related to cooling demand for decentralized finance (DeFi) as crypto-markets have retreated this year. However, one platform that has clearly stood out despite the odds is Arbitrum.
Arbitrum, the Ethereum L2 roll-up, was one of the first optimistic commercial solutions. It lowers costs and speeds up transactions on the Ethereum mainnet. Blockchain analytics firm Nansen reported that seven-day activity in terms of addresses for many of the leading networks declined. On the contrary, in the last 7 days, all but Arbitrum’s (+12.7%) on-chain activities underlined a different picture.
<p lang=«en» dir=«ltr» xml:lang=«en»>In the last 7 days, all but Arbitrum's (+12.7%) on-chain activities have slowed down:#BNB Chain 4.03M#Ethereum 1.99M#Ronin 1.09M#Polygon 854k#Avalanche 269k#Fantom 204k#Arbitrum 46.2k#Celo 29.4k#Optimism 9.52kCheck out their public dashboard links in the
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