Arbitrum transaction activity rockets 550% since August: Delphi Digital
Following the Nitro upgrade, activity on Arbitrum has surged and has nearly two-thirds of the transaction activity seen on the Ethereum base layer. Ethereum layer-2 scaling solution Arbitrum has seen a massive surge in activity since its Nitro update in August, having just clocked around 62% as many transactions as the Ethereum base layer.In a Nov. 1 report, crypto research firm Delphi Digital noted that as of the week ended Oct. 24, Arbitrum’s number of total transactions has increased by 550% since August, citing data from Dune Analytics.This week, @arbitrum had ~62% as many transactions....
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On August 4, Arbitrum One, the layer two (L2) Ethereum scaling solution, announced the protocol will implement a significant upgrade called Nitro in 25 days. The highly anticipated Nitro migration will take place on August 31, exactly one year after Offchain Labs, the Arbitrum project maintainers, launched the Arbitrum One mainnet. The Arbitrum team says that developers need to prepare contracts and users should get prepared for faster transactions and lower fees.
Offchain Labs Reveals Migration Date for Arbitrum One’s Nitro Upgrade
Two days ago, the official Arbitrum....
As one of the after-merge solutions, Ethereum added Arbitrum to its layer-2 mainnet. The Ethereum network expects the Arbitrum scaling tool to eliminate the problem of high transaction fees and optimize network scalability. Arbitrum scaling tool enables users access to DeFi applications. Arbitrum network makes token swap almost extremely cheap at 0.60 cents. The recent […]
Arbitrum earnings are soaring as daily active users flood the layer-2 platform with the hope of an eventual airdrop. Post Ethereum (ETH) merge, layer-2 blockchains have been catching the eyes of users and investors alike. Research firm Delphi Digital has been tracking Arbitrum since August and recently shared its analysis in a monthly market report. According to data, user behavior and historical analysis show multiple trends of rapid growth in transactions, total value locked (TVL) and daily active users at Arbitrum-based platforms. Arbitrum reaches the top-10 in monthly earningsWhen....
Layer two activity is cooling for most networks, but Arbitrum has seen an increase in TVL and active addresses recently. On-chain activity for the leading Layer 2 networks has been declining recently, however, the Arbitrum platform is bucking the trend according to recent findings.Blockchain analytics firm Nansen has reported that seven-day activity in terms of addresses for many of the leading networks has been in decline. Only the Ethereum L2 scaling network Arbitrum has shown gains for this metric.According to its Feb. 28 tweet, Arbitrum activity has increased by 12.7% over the past....
The Nitro upgrade will further improve the transaction fee crisis that has plagued the growth of the Ethereum network over the last two years. Ethereum layer-2 scaling solution Arbitrum is set to undergo one of its most significant upgrades on Wednesday, set to increase transaction throughput, slash transaction fees and simplify cross-chain communication between Arbitrum and Ethereum.Referred to as the “Nitro” upgrade, Arbitrum reconfirmed the date of the upgrade in a Twitter post on Aug. 29, confirming that the upgrade will take effect on Aug. 31 at 10:30 AM Eastern Time, while noting a....