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Ethereum Layer-2 Protocols Achieve Record Transaction Throughput
Layer 2 protocols are faster than ever in processing transactions, according to data source growthepie.xyz.
What to know:
- Base leads to the progress in Layer 2s' transaction processing ability.
- The new high comes amid concerns that sustained demand could deplete capacity.
Ethereum layer-2 protocols are processing transactions faster than ever, with Coinbase's BASE at the forefront of this progress.
According to data from growthepie.xyz, the cumulative transaction throughput for layer 2s has skyrocketed to 29.64 million gas units per second (Mgas/s), the highest pace ever recorded. BASE leads the way, accounting for 67% of the total. Gas is the fee users pay to conduct a transaction.
STORY CONTINUES BELOW
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Layer-2 protocols are scaling solutions built on top of primary blockchains like Ethereum, and are designed to handle a higher volume of transactions at lower cost. The metric of millions of gas units per second reflects the number of transactions the network processes each second.
This surge in throughput comes amid concerns that sustained demand for layer 2 solutions could quickly exhaust available capacity.
Omkar Godbole
Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
