Arbitrum Surpasses 1 Billion Transactions, Leading Layer 2 Solutions by TVL
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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.
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