Although the price is Ethereum It has been steadily declining over the past few weeks and is now seeing a surge in adoption of leading blockchains. The number of transactions per second processed on current networks has increased significantly, reaching unprecedented levels.
A new throughput record for the Ethereum network
In a highly volatile cryptocurrency environment, the Ethereum network has reached new milestones in terms of usage and adoption. On-chain data shows that more transactions are now being conducted on major blockchains, indicating renewed interest in the ETH ecosystem.
Transactions per second (TPS) on the Ethereum network has reached an all-time high. shared Written by Joseph Young on Social Media Platform The new TPS peak suggests that the ecosystem is transitioning into a higher phase where demand for smart contracts, rollups, and L2 are all coming together to form one upward momentum.
According to the data, more than 31,083 transactions are currently processed on the blockchain in one second. Young expects this TPS to expand further in the near term due to the following upcoming ETH updates: face upgradePeerdas, ZKetherum, Blob scaling, EIP-7928, and ZK. These important updates are demonstrating reduced latency.
Additionally, Young said Ethereal is expanding in an exponential curve. For a short period of time, Ethereum seemed almost weightless, sharper, leaner, and equipped to handle everything needed for the coming surge of on-chain activity.
Transactions on Ethereum It also grew exponentially on the daily timeframe, suggesting renewed demand and revived confidence. Leon Waidmann, head of research at the On-Chain Foundation, looked at the number of ETH transactions. release Approximately 30.69 million transactions are processed per day on the Ethereum mainnet and layer 2.
Waidmann highlighted that the charts have witnessed a multi-month upward trend with the indicator showing no signs of slowing down. This is due to an increase in daily activity, which is more than 5 times more than in the first quarter, and the growth of PayFi, AI agents and Decentralized Finance (DeFi).
All of this solidifies ETH as the fastest expanding ecosystem in the entire cryptocurrency sector. A surge of this magnitude is noticeable in ETH's on-chain environment, indicating that something deeper may be awakening.
Reduced transaction costs for ETH
While transactions are booming Ethereum NetworkTransaction costs appear to have plummeted. at mail According to Waidmann, the average transaction cost for Layer 1 was $0.17 per token transfer. Meanwhile, the average cost for Layer 2 was $0.0007 per token transfer.
Because of these low costs, the network now operates cheaply at scale, with sub-cent transfers handled by most optimistic rollups. However, zkEVM L2 like zkSync Era line It continues to cost more than its optimistic peers.
Featured image from Getty Images, chart from Tradingview.com
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