🔥 Ethereum’s TPS Hits New All-Time High
posted 17 Jun 2024
The Ethereum ecosystem, including its L2 and L3 blockchains, has set a new record for transactions per second at 245 TPS. A significant portion of this achievement, nearly 50% or 101 TPS, was contributed by the relatively new gaming-focused L3 blockchain, Xai, even though its total value locked (TVL) is less than $2 million.
Following closely were Base with 32 TPS and Arbitrum with 20 TPS. Other projects like Blast, zkSync Era, and Optimism lagged behind, with performances at least half of their leading counterparts. Another gaming-centric L3 blockchain, Proof of Play Apex, developed by Offchain Labs (also behind Xai and Arbitrum One), secured 4th place.
Change in TPS over the last six months. Source: L2BEAT
Some decentralized community analysts consider the TPS metric to be overrated and advise against relying solely on it. Steven Goldfeder, founder of Offchain Labs, shares this view but acknowledges that currently, there is no alternative method to gauge blockchain performance effectively.
Transaction speed or scalability is a crucial factor in blockchain development and usage. However, the quest for higher transaction rates often confronts the blockchain trilemma, a technical paradox that challenges the possibility of achieving high scalability, security, and decentralization simultaneously.
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