L2s on the Rise as Base and zkSync Era Overtakes Ethereum by TPS

Ethereum-based layer-2 network Base and zkSync have seen their transaction capabilities overtake legacy Ethereum for the first time.

Ethereum’s long-term roadmap includes a future where layer-two solutions handle a significant portion of transactions that eventually settle on the Ethereum mainnet. In a related positive development, Ethereum-based networks Base and zkSync Era surpassed mainnet Ethereum in transactions per second (TPS) metric.

Layer-2 analytics platform L2Beat shows that in the past 24 hours, Base and zkSync Era recorded a TPS metric of 12.93 and 12.62, respectively. On the other hand, the Ethereum network handled 10.18 transactions per second over the same period. Starknet and Arbitrum One complete the top 5 with 9.79 and 4.90 TPS, respectively.

Incubated by publicly traded crypto company Coinbase, Base is a layer-2 network built using a technology stack developed by blockchain scalability-focused startup Optimism. It is noteworthy that although Optimism offers its layer-2 network and token OP, the startup also empowers blockchain projects with a tech stack to deploy their networks. 

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However, zkSync Era is a layer-2 network that primarily integrates zero-knowledge proof (ZKP) technology. Beyond scaling throughput, zkSync Era aims to offer advanced privacy and security features to users transacting on the network. 

Base, zkSync, and Shibarium are on the rise

Base and zkSync Era reaching a higher transaction throughput than the native Ethereum mainnet underlines the potential layer-2s have to ease the workload on legacy networks like Ethereum. It also represents a remarkable feat, given both networks only launched earlier this year. While the zkSync Era mainnet launched in March, Coinbase’s Base network went live in August. 

Speaking about L2s, Shibarium is another scalability solution that has recently gained traction. The Shiba-Inu-backed network has gained over two million wallets and aims to hit the three million transaction milestone within one month after launch.

Although these Ethereum-based layer-2s do not offer the same level of decentralization as the Ethereum mainnet, they deliver on two main components. They provide faster transactions and cheaper fees, even when fees on the mainnet are near yearly highs.

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• Source: https://thecryptobasic.com/2023/09/18/l2s-on-the-rise-as-base-and-zksync-era-overtakes-ethereum-by-tps/?utm_source=rss&utm_medium=rss&utm_campaign=l2s-on-the-rise-as-base-and-zksync-era-overtakes-ethereum-by-tps