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New statistics: The number of transactions in the second tier of Ethereum is higher than the number of bitcoin transactions

Recent data show that last week the number of transactions of Ethereum Layer 2 protocols exceeded the main bitcoin network. However, experts say that most of these transactions were very small.

to the Report The new findings show that acceptance of second-tier scalability protocols has increased in recent months with rising gas prices, and that the Ethereum second-tier platform ecosystem now processes more transactions per day than the main bitcoin network.

According to data from CoinMetrics compiled by Evan Van Ness, analyst and founder of Week In Ethereum News, the number of second-tier Ethereum transactions on Monday last week exceeded that of the Bitcoin network. Ethereum’s second tier protocols processed about 250,000 transactions to date, compared to 210,000 for the Bitcoin network.

The analyst revealed that the StarkWare network, with 143,000 transactions on some decentralized finance platforms (DeFi) such as the dYdX exchange office and the second-tier platform of the immutable tokens (NFT), is more immutable X, Imm Has had processing during this period.

The Arbitrum, which launched on the main network on Wednesday, has had about 56,000 transactions during this period. The newly launched Arbitrum One platform has already attracted big names in decentralized finance, including Aave, Chainlink and Uniswap. Uniswap is currently considering several different second tier solutions.

According to the researcher, Optimistic Ethereum had about 28,000 transactions on this day. The decentralized exchange Uniswap put the third version of its protocol on Optimism in July and is also strengthening the second layer version of the Synthetix / Kwenta decentralized trading platform.

Van Ness said there are several other platforms on the list, among which the decentralized Loopring exchange accounted for the largest share of the remaining transactions.

Also read: With the launch of Ethereum 2, what will happen to second tier solutions like Paligan?

Bitcoin fans point out that Van Ness compared the second layer of Ethereum to the first layer of Bitcoin and did not provide information about the Lightning network. Lightning is a second-tier scalability solution for the Bitcoin network.

Van Ness replied:

I think that due to the small volume [سرمایه] locked [در این شبکه]Lightning has very little traction, but if anyone has conflicting information I would be happy to show it to me.

Sanket, director of strategy at Polygon, one of Ethereum’s top-tier second-tier scalability solutions, questioned some network statistics, saying most second-tier protocol transactions were of little value.

Senket tweeted on Tuesday:

Forty-five percent of all addresses traded less than $ 1.45 in their day-to-day transactions.

According to data from the L2 Fees platform, which compares fees for second-tier Ethereum solutions, Looping is the most cost-effective platform for Ethereum transfer at just $ 0.4. The zkSync protocol, developed by the Matter Labs Foundation, costs $ 0.83 twice as much as Looping. Arbitrum One platforms are next with $ 2.75 and Optimism with a $ 5.83 fee.

A simple transfer to Ethereum’s core network currently costs about $ 11, but BitInfoCharts reports that the average fee for all types of transactions last week was about $ 40.


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