zkSync outpaces Ethereum in monthly transaction volume, propelled by inscription activity
zkSync, a Layer 2 scaling resolution for Ethereum, recorded extra transactions than the Ethereum mainnet over a one-month interval, processing 34.7 million transactions prior to now 30 days.
A complete of 34.2 million transactions had been recorded on Ethereum’s mainnet throughout the identical interval, in line with L2Beat information. Subsequent in line was Arbitrum, which noticed 31.4 million transactions over the previous 30 days.
The latest rise in transaction quantity on zkSync has been attributed to the unfold of inscriptions — a characteristic initially created on Bitcoin — to EVM networks, together with most Layer 2 chains.
Knowledge from L2Beat highlights that zkSync skilled its largest month-to-month transaction surge on Dec. 16. That is when sync inscription was rolled out on the community and constituted 4.6 million of the 5.3 million transactions that day alone, in line with Dune information aggregated by Dragonfly analyst Hildobby.
Inscription-related transactions
zkSync operates as a Layer 2 community on the Ethereum mainnet. By bundling lots of or 1000’s of transactions right into a single cryptographic proof, it verifies transactions a lot sooner and extra cheaply than the mainnet.
Since mid-December, inscription-related transactions have contributed to zkSync’s total exercise, serving to it surpass each Ethereum and its Layer 2s.
Inscriptions are information embeds present in transaction name information, which, like Ordinals on Bitcoin, can be utilized to create alternate tokens and NFTs. Such tokens embrace Ethscriptions on Ethereum, Doginals on Dogecoin and Solana Inscriptions on Solana.
