L2 protocol Arbitrum has achieved a major milestone, surpassing 1 billion transactions since launching its mainnet in August 2021.
While Base, Coinbase’s Layer 2 network, has processed 755 million transactions, Arbitrum still holds the lead in total transaction volume. However, Base currently handles more daily transactions, according to data from The Block.
In terms of total value locked (TVL), Arbitrum tops Layer 2 networks with $2.5 billion, followed closely by Base at $2.2 billion, as per DeFiLlama.
Arbitrum’s technology, developed by Offchain Labs, operates using optimistic rollups, which assume transactions are valid unless disputed. This approach reduces the load on Ethereum while maintaining its security. Although Arbitrum One includes fraud prevention, it is still not fully decentralized.
Additionally, Offchain Labs runs a second chain, Arbitrum Nova, designed for off-chain data storage and scaling applications. In 2023, the company also launched Orbit, a tool allowing developers to create Layer 3 blockchains on top of Arbitrum’s ecosystem.
A new blockchain initiative backed by the forces behind Tether and Bitfinex is taking shape—one that’s turning its focus away from retail crypto users and setting its sights firmly on institutional finance.
Tether is deepening its involvement in the tokenized gold space by introducing a new version of its gold-backed stablecoin—XAUt0—on The Open Network (TON).
Litecoin is taking a major leap into the world of DeFi and Web3 with the launch of LitVM, a newly introduced Layer-2 network designed to bring smart contract capabilities to the long-standing cryptocurrency.
Binance has announced its full technical support for an upcoming upgrade to the Siacoin (SC) blockchain, scheduled for June 6, 2025.