Ethereum Scaling TPS Reaches New Peak
2 min read
Ethereum Scaling TPS Reaches New Peak
The Ethereum ecosystem has recently hit a new milestone in terms of transactions per second (TPS). This surge in TPS can be attributed to a sharp increase in activity on a relatively obscure Ethereum layer 3 network. According to L2BEAT data, various Ethereum scaling solutions, including both layer-2 and layer-3 blockchains, collectively achieved 246.18 TPS on June 16. This equates to around 21.2 million transactions within a single day.
A significant portion of these transactions occurred on Xai, an emerging layer 3 scaling solution designed primarily for gaming applications. Developed by Offchain Labs, the same company responsible for the Arbitrum One blockchain, Xai has seen a dramatic increase in its TPS. Until June 10, Xai’s TPS hovered around 1, but it significantly rose, hitting a peak of 101.72 TPS on June 16.
Base and Arbitrum were also major contributors, registering nearly 33 and 21 TPS on the same day, respectively. Proof of Play Apex, another gaming-centric layer 3 scaler launched by Offchain Labs, secured the fourth position. Despite these figures, the total value locked (TVL) in both Xai and Proof of Play Apex remains relatively low—amounting to $1.38 million and $695,000, respectively.
In contrast, Arbitrum One and Base, the two largest Ethereum scaling solutions by TVL, hold $18 billion and $7.6 billion, respectively. These significant amounts dwarf the TVL in the newer scaling solutions, highlighting the trust and usage that Arbitrum One and Base have garnered over time.
Some industry analysts argue that TPS is an overrated metric for assessing blockchain performance. Steven Goldfeder, a co-founder at Offchain Labs, provided an interesting analogy in an earlier interview. He compared TPS to counting the number of bills in a wallet without considering their denominations, suggesting that the metric lacks the nuance to fully capture the efficiency and effectiveness of a blockchain.
Despite these criticisms, TPS remains the most commonly used metric for evaluating blockchain performance. This prevalence indicates that, for now, there may not be a better alternative that offers the same straightforward insight into blockchain activity, as Goldfeder pointed out.
The debate over the most effective metrics for blockchain assessment continues, with many industry experts advocating for a more comprehensive approach. Such an approach would include not only TPS but also other factors like latency, security, and overall user experience.
The recent surge in Ethereum’s combined TPS highlights the rapid advancements in blockchain technology and scaling solutions. This explosion in transaction activity underscores the growing importance of efficient and scalable blockchains, particularly as the ecosystem continues to develop and expand into new areas like gaming.
With developers like Offchain Labs, the future of gaming on Ethereum looks incredibly promising.
The numbers speak for themselves. Ethereum is on the rise and were all on board this exciting journey!
I can’t get on board with this TPS hype when the total value locked in new solutions is so small. What are we actually celebrating here?
I find these TPS numbers quite misleading! High transaction speeds don’t mean much if the TVL is still so low.
People need to understand TPS alone doesnt make a blockchain efficient or effective. This metric obsession is seriously flawed.
Why even bother mentioning TPS milestones when it doesnt necessarily equate to real growth or usability in the Ethereum network?
The evolution of Ethereum’s ecosystem is legendary. Imagine the new projects this TPS can support! 🤯🌐
Reaching these TPS heights is a testament to the hard work of all developers involved. Kudos to everyone! 💪🎉
Impressive work by the developers, especially on boosting Xai’s TPS. Can’t wait to see what’s next! 🌠🔗
Impressive figures for Base and Arbitrum too! Ethereums scaling future looks secure.
Xais growth is just insane. Hats off to Offchain Labs for their incredible work.
Wow, 246.18 TPS is fantastic! The Ethereum ecosystem just keeps getting better and better!
Ethereum fans always rave about milestones, but the practical benefits for everyday users are still so limited.
Why is everyone so hyped about TPS? 🌪️ It’s such an overrated metric that doesn’t capture the real capabilities of Ethereum’s ecosystem.
What a significant achievement! Heres to more innovations in Ethereums scalability.
This is phenomenal progress. More TPS means a more efficient and powerful Ethereum network. 🚀🤖
Amazing progress by the Ethereum community. Just imagine the possibilities with this kind of scalability! 🔥🌐
Wow, over 21 million transactions in a single day. Ethereum’s ecosystem is truly thriving! 🚀🔗
Incredible milestone for Ethereum! The potential for gaming applications on these new layer-3 solutions is massive.
This is huge! Ethereum continues to lead the way in blockchain scalability and efficiency.
Absolutely thrilled by this news! More TPS means more opportunities for innovation in the blockchain space.
Love seeing the growth in Ethereums scaling solutions. Keep up the amazing innovations!
Gamers paradise is coming with these advancements in layer 3 solutions. Way to go, Offchain Labs!
The transaction activity surge is a clear sign of Ethereum’s robust and dynamic ecosystem. Let’s keep moving forward! 💪🌟
TPS alone doesn’t mean the network is doing well. The low TVL for Xai and Proof of Play Apex should be raising massive red flags!
Ethereum is hitting new heights! The scalability improvements are much needed, great job to everyone involved!
TPS might be up, but if the user experience and security aren’t prioritized, it’s pretty much meaningless.
Steven Goldfeder is right. Counting TPS is like counting coins without looking at their real value. They really need a better way to measure blockchain performance.
So we’re supposed to be impressed by Xai’s TPS when the TVL is just $1.38M? 🚫 Seems like fluff to me.
The debate over blockchain metrics is ridiculous. Focusing too much on TPS while ignoring other crucial factors like security and latency is a huge mistake!
These TPS achievements not only highlight technical progress but also the immense potential of blockchain technology. 🌟📈
Can we talk about how untrustworthy these newer scaling solutions sound? Tiny TVL and suddenly skyrocketing TPS? Feels a bit fishy to me.
What’s the point of boasting TPS when the new networks like Xai and Proof of Play Apex have almost no TVL? 💸 It sounds like fake progress.
What’s really disturbing here is how layer-2 and layer-3 solutions are getting all this hype without proving their actual utility. Low TVL speaks volumes.
Seeing Xai and Proof of Play Apex emerge is very promising for gaming on blockchain. Keep pushing boundaries! 🌍🎮