The Ethereum ecosystem’s mixed transactions per second (TPS) has exploded to a brand new all-time excessive, because of a sudden TPS spike in a comparatively unknown Ethereum layer 3.
L2beat knowledge exhibits that the Ethereum scaling networks, together with layer-2 and layer-3 blockchains, registered a mixed 246.18 TPS on June 16, which equates to an estimated 21.2 million transactions throughout the day.
Over 41% of these transactions befell on Xai, a brand new Ethereum layer-3 scaling resolution centered on gaming functions. Offchain Labs, the agency behind the Arbitrum One blockchain, powers Xai.
Previous to June 10, Xai’s TPS hovered round one per day, however it has been rising practically day-after-day since then, topping out at 101.72 TPS on June 16.
Base and Arbitrum rounded out the highest three with 33 and 21 TPS on June 16.
In fourth place was Proof of Play Apex, one other game-focused Ethereum layer-3 scaler launched by Offchain Labs.
Nevertheless, the full worth locked (TVL) in Xai and Proof of Play Apex stays comparatively small at $1.38 million and $695,000, respectively.
By comparability, Arbitrum One and Base, the 2 largest Ethereum scaling options by TVL, at the moment safe $18 billion and $7.6 billion.
Associated: Optimism to roll out new Superchain options for layer-3 devs
Some business analysts imagine TPS is an overrated metric when measuring the efficiency of blockchains.
“[It’s a bit like “counting the number of bills in your wallet but ignoring that some are singles, some are twenties, and some are hundreds,” explained Steven Goldfeder, a founder at Offchain Labs, in an interview with Cointelegraph Magazine earlier in 2024.
But it’s still the most common metric because there may be no single better alternative, Goldfeder added.
Magazine: Is measuring blockchain transactions per second (TPS) stupid in 2024? Big Questions