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Arbitrum One, a Layer 2 solution for Ethereum, has reached a major milestone, surpassing 1 billion transactions since its mainnet launch in August 2021. This achievement highlights Arbitrum’s growing dominance in the Layer 2 ecosystem over the past three years.
According to Blockscan data, while Base, incubated by Coinbase, has recorded 755 million transactions, and OP Mainnet has processed 347 million, Arbitrum remains a key player. Despite Base currently leading in daily transaction volume, Arbitrum holds second place.
Arbitrum Leads the Pack with Over $2.5 Billion in Total Value Locked
More significantly, Arbitrum maintains the highest Total Value Locked (TVL) among Layer 2 networks, with $2.5 billion, according to DeFiLlama. Base follows closely with a TVL of $2.2 billion.
Developed by Offchain Labs, Arbitrum One uses optimistic rollup technology to secure transactions through the Ethereum blockchain while offering faster and more cost-effective solutions. The system assumes transactions are valid by default, verifying them only when challenged, thereby reducing computational load on Ethereum and lowering costs.
Offchain Labs Expands with Arbitrum Nova and Orbit for Layer 3 Development
Arbitrum One also operates with an active fraud-proof mechanism, though the platform is still in its early stages and has not yet fully transitioned to a permissionless model. Offchain Labs also manages Arbitrum Nova, another Layer 2 network using the AnyTrust protocol to scale decentralized applications by ensuring off-chain data availability.
In October 2023, Offchain Labs launched Orbit, a development toolkit for creating Layer 3 blockchains. Orbit allows developers to launch their own chains by building on Arbitrum One or Arbitrum Nova, further expanding the ecosystem of Layer 2 and Layer 3 chains built on Ethereum.
With continuous innovation and strategic development, Arbitrum is solidifying its role as a significant player in Ethereum scaling.
