Arbitrum One Surpasses 1 Billion Transactions, Leads Layer 2 Sector in TVL

Arbitrum One, the Ethereum Layer 2 optimistic rollup, has surpassed 1 billion transactions this week. This feat was accomplished by Arbitrum One within three years of its mainnet launch in August 2021.

Arbitrum One Surpasses 1 Billion Transactions, Leading Layer 2 Networks by a Wide Margin Arbitrum One, the Ethereum Layer 2 optimistic rollup, has achieved a significant milestone by surpassing 1 billion transactions this week. The network’s rapid growth highlights the increasing adoption of Layer 2 solutions for scaling Ethereum.

Despite launching its mainnet later than other Layer 2 networks, Arbitrum One has managed to take the lead in both transactions and total value locked (TVL). This achievement is largely attributed to the network’s performance, low fees, and豊富なdeveloper ecosystem.

As of October 1st, Arbiscan recorded a total of 1.003 billion transactions on Arbitrum One. In comparison, Coinbase’s Layer 2 network, Base, has logged 755 million transactions so far, while OP Mainnet trails with 347 million.

According to the data compiled by L2Beat, Arbitrum One also leads in TVL among Layer 2 solutions, currently sitting at $14.3 billion, with Base at $7.32 billion and OP Mainnet at $6.57 billion.

Earlier last month, stablecoin issuer Paxos announced its plans to launch its products on Arbitrum One. The main objective behind the partnership is to further institutional integration onto the Arbitrum network and bring real-world assets on-chain.

Via Arbitrum, the company intends to tap into Ethereum’s deep liquidity at higher speeds and low cost and engage Arbitrum’s active DeFi ecosystem.

While weighing on choosing Arbitrum One as the first Layer 2 chain to integrate with Paxos, Walter Hessert, the company’s Head of Strategy, commented,

“We are excited to partner with Arbitrum to bring more real-world assets on-chain. Arbitrum is known for its speed, security and scalability, which is critical to driving long-term adoption of digital assets across industries. In the next three years, the adoption of stablecoins by both retail and institutional users will explode and Paxos will drive that paradigm shift.”

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