Ethereum’s Scalable Ecosystem Combined TPS is at a new all-time high.
The Ethereum ecosystem's combined transactions per second (TPS) hit a new all-time high thanks to a sudden TPS increase in the relatively unknown Ethereum Layer 3.
L2BEAT data shows that Ethereum scaling networks, including layer-2 and layer-3 blockchains, recorded a combined 246.18 TPS on June 16, which is equivalent to approximately 21.2 million transactions per day.
More than 41% of these transactions took place on Xai, Ethereum's new layer 3 scaling solution focused on gaming applications. It is powered by Offchain Labs – the organization behind the Arbitrum One Blockchain.
Before June 10, Xi's TPS hovered around 1 per day, but since then it has been rising almost daily, peaking at 101.72 TPS on June 16.
Base and Arbitrum rounded out the top three with 33 and 21 TPS respectively on June 16.
In fourth place was Proof of Play Apex – another gaming-focused Ethereum Layer 3 scale launched by Offchain Labs.
However, the Total Locked Value (TVL) in the Xai and Play Apex certification remains relatively low at $1.38 million and $695,000 respectively.
In comparison, Arbitrum One and Base, the two largest Ethereum scale solutions at TVL, currently have $18 billion and $7.6 billion secured respectively.
Related: Optimism for Layer-3 Devs to Deploy New Superchain Features
Some industry analysts believe that TPS is an overrated metric when measuring blockchain performance.
In an interview with Cointelegraph magazine, Steven Goldfeder, the founder of Offchain Lab, explained, edStevenGoldfederafounderatOffchainLabsinaninterviewwithCointelegraphMagazineearlierthisyear[ይህበኪስቦርሳዎውስጥያሉትንየክፍያመጠየቂያዎችቁጥርመቁጠርግንአንዳንዶቹነጠላዎች፣ሌሎችሃያዎችእናአንዳንዶቹመቶዎችመሆናቸውንችላማለትይመስላል።አመት[It’sabitlike“countingthenumberofbillsinyourwalletbutignoringthatsomearesinglessomearetwentiesandsomearehundreds”explainedStevenGoldfederafounderatOffchainLabsinaninterviewwithCointelegraphMagazineearlierthisyear
But it's still the most common metric because there may not be a single best option, Goldfeder added.
Magazine: Is Measuring Blockchain Transactions Per Second (TPS) Foolish in 2024? Big questions
