Ethereum TPS Surges
In the latest Ethereum news, the Ethereum scaling ecosystem has reached a new milestone with its combined transactions per second (TPS) soaring to an all-time high. On June 16, layer-2 and layer-3 networks registered a combined 246.18 TPS, translating to an estimated 21.2 million transactions throughout the day. This surge is attributed to a significant TPS spike in Xai, an emerging Ethereum layer-3 solution.
Xai: The New Face in Ethereum Scaling
Xai, which focuses on gaming applications, accounted for over 41% of the day’s transactions. Powered by Offchain Labs, creators of Arbitrum One, Xai’s TPS has shown a remarkable increase from around one per day to 101.72 TPS on June 16. This growth positions Xai as a notable player in the Ethereum scaling space.
TVL vs. TPS: Measuring Blockchain Performance
While TPS has hit record numbers, the total value locked (TVL) in newer solutions like Xai and Proof of Play Apex remains modest at $1.38 million and $695,000, respectively. In contrast, established networks like Arbitrum One and Base secure $18 billion and $7.6 billion in TVL. The disparity raises questions about the relevance of TPS as a performance metric. Steven Goldfeder from Offchain Labs suggests that while TPS is commonly used, it may not fully capture a blockchain’s performance, likening it to “counting the number of bills in your wallet but ignoring their denominations.”
Related Read: https://coinnounce.com/ether-witnesses-second-largest-accumulation-day-in-history/
The recent developments show Ethereum’s evolving infrastructure and the ongoing lookout for efficient scaling solutions.
