Ethereum Layer 2 Arbitrum One exceeds one billion transactions

Arbitrum One, the ethereum Layer 2 bullish rollup, surpassed 1 billion transactions this week. Arbitrum One achieved this feat within three years of launching its mainnet in August 2021.

Starting October 1, Arbiscan x.com/arbitrum/status/1840678023567171792″ target=”_blank” rel=”noopener” data-wpel-link=”external”>recorded a total of 1,003 million transactions.

In comparison, Coinbase's Layer 2 network, Base, has recorded 755 million transactions so far, while OP Mainnet follows with 347 million.

Notably, Arbitrum One also leads in total value locked (TVL) among Layer 2 solutions, currently at $14.3 billion, with Base at $7.32 billion and OP Mainnet at $6.57 billion, according to the data compiled by L2Beat.

Early last month, stablecoin issuer Paxos announced its plans to launch its products on Arbitrum One. The main objective behind the partnership is to promote institutional integration into the Arbitrum network and bring real-world assets into the chain.

Through Arbitrum, the company intends to tap into ethereum's deep liquidity at higher speeds and low costs and engage in Arbitrum's active DeFi ecosystem.

While considering choosing Arbitrum One as the first Layer 2 chain to integrate with Paxos, Walter Hessert, the company's chief strategy officer, commented:

“We are excited to partner with Arbitrum to bring more real-world assets to the network. Arbitrum is known for its speed, security, and scalability, which is critical to driving long-term adoption of digital assets across industries. “In the next three years, stablecoin adoption by retail and institutional users will skyrocket and Paxos will drive that paradigm shift.”

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