Ethereum’s community was outclassed by a layer-2 scaling answer in month-to-month transactions for the primary time.
zkSync processed extra transactions than the Ethereum mainnet prior to now 30 days, based on L2beat information. The community recorded 34.7 million transactions inside a month, about 500,000 greater than Ethereum, which dealt with 34.2 million in the identical interval.
Arbitrum’s community got here third after zkSync and Ethereum with 31.4 million month-to-month transactions as of reporting time.
zkSync’s triumph marked the primary time an L2 community surpassed Ethereum’s mainnet for month-to-month transactions. This was possible achieved due to the rising inscription tendencies from the Bitcoin community following developments by Casey Rodarmor and Domo, a pseudonymous blockchain builder.
L2beat’s dashboard confirmed that zkSync noticed its largest single-day transaction uptick on Dec. 16, the identical day inscriptions had been enabled on the L2 scaling community.
Rodarmor created the Ordinals protocol that allowed customers to embed information in name information on Bitcoin (BTC). Domo expanded on this concept with the BRC-20 token commonplace to start token issuance and NFTs on BTC’s community, akin to ERC-20 and defi on Ethereum.
For the reason that first half of 2023, when inscriptions and ordinals debuted, the know-how has unfold to different blockchains, together with Ethereum and Solana, generally inflicting community outages and sequencer points like on Arbtrium.
Ender Lu, CTO of Morph L2 and a former Binance Chain core developer burdened the necessity for extra decentralized blockchain sequencers to mitigate future community downtime.
Lu famous that this important piece of blockchain structure leaned extra in the direction of centralization, warning that this spurs censorship considerations inside Ethereum’s neighborhood and the broader blockchain ecosystem.
If the block builders develop into extra centralized, there’s a threat of full censorship. It is rather vital to decentralize the block builder by creating distributed validator know-how.
Ender Lu, CTO of Morph L2