- Arbitrum followed with 31.4 million transactions in the last 30 days.
- The expansion of inscriptions has been cited as the reason for this significant volume.
Over the last 30 days, zkSync—Ethereum’s Layer 2 scalability solution—processed 34.7 million transactions, surpassing the Ethereum mainnet in terms of volume. L2Beat statistics shows that over the same time period, 34.2 million transactions were registered on Ethereum’s mainnet. Arbitrum followed with 31.4 million transactions in the last 30 days.
On the Ethereum mainnet, zkSync functions as a Layer 2 network. It is a cheaper and quicker alternative to the mainnet for verifying transactions since it bundles hundreds or thousands of them into a single cryptographic proof.
Inscriptions Craze
The expansion of inscriptions, a feature initially developed for Bitcoin, across EVM networks, including the majority of Layer 2 chains, has been cited as the reason for the recent increase in zkSync transaction volume.
L2Beat data shows that December 16th was the best day of the month for zkSync in terms of transaction volume. According to Dune data compiled by Dragonfly researcher Hildobby, 4.6 million of the 5.3 million transactions that day were sync inscriptions, which was pushed out on the network at that time.
Since the middle of December, zkSync has been able to outperform Ethereum and its Layer 2s because of transactions linked to inscriptions.
Vitalik Buterin, one of Ethereum’s co-founders, has recently proposed a way to make the proof-of-stake (PoS) consensus mechanism “considerably simpler and lighter,” which would allow the Ethereum blockchain to handle more transactions per second.
The co-founder proposed a solution to reduce validators’ workload on December 28 by lowering the required number of signatures.
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