<\/p>\n
Activity across Layer 2 networks is booming, with combined L2 throughput outpacing the Ethereum mainnet by 400%.<\/p>\n
The weekly average scaling throughput of Ethereum\u2019s Layer 2 ecosystem surpassed 50 transactions per second (TPS) for the first time on Aug 15, hitting an all-time high of 50.83 TPS two days later, according to L2beat.<\/p>\n The milestone comes as zkSync Era has overtaken the Ethereum mainnet, with daily activity sitting at 12.2 TPS compared to 10.9 TPSfor Ethereum. Era processed a record high 13.44 TPS on Aug. 19.<\/p>\n A new breed of L2s is challenging the dominance of incumbents Arbitrum and Optimism.<\/p>\n Base, the freshly launched L2 from the top U.S. exchange, Coinbase, is the second-most active layer 2 with 9.93 TPS after growing 50% over the past week. Activity on Base has been buoyed by the surging popularity of friend.tech<\/a>, an app allowing users to trade tokens associated with public Twitter profiles.<\/p>\n Arbitrum ranks third with 6.2 TPS, followed by Starknet with 4.8 TPS, and Optimism with 4.2 TPS.<\/p>\n However, Arbitrum and Optimism still command more than 80% of the nearly $10B in total value locked in Layer 2s, with $5.6B and $2.6B, respectively. zkSync comes in third with $408M, followed by dYdX with $339M, and Base with $237M.<\/p>\n Facing new competition, the Arbitrum Foundation responded by launching<\/a> its first grants program last month. The foundation said the new initiative is not intended to replace the grants programs operated by the Arbitrum DAO.<\/p>\n The first round of Foundation Grants will distribute funding to \u201cdecentralized applications and infrastructure\u201d for both its flagship Arbitrum One and gaming-focused Arbitrum Nova<\/a> networks. The categories<\/a> include DeFi, gaming, NFT, social dApps, or user interface tooling and backend application infrastructure.<\/p>\n The foundation will progressively distribute funding based on key performance indicators and other milestones arranged with each applicant individually.<\/p>\n \u201cAll grants issued through this program will serve to improve adoption, create stronger technical structures, and build amazing sustainable communities,\u201d said the Arbitrum Foundation.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Activity across Layer 2 networks is booming, with combined L2 throughput outpacing the Ethereum mainnet by 400%. The weekly average scaling throughput of Ethereum\u2019s Layer 2 ecosystem surpassed 50 transactions per second (TPS) for the first time on Aug 15, hitting an all-time high of 50.83 TPS two days later, according to L2beat. The milestone […]<\/p>\n","protected":false},"author":2,"featured_media":140441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-140440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/140440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=140440"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/140440\/revisions"}],"predecessor-version":[{"id":140442,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/140440\/revisions\/140442"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/140441"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=140440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=140440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=140440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Emerging Layer 2 Networks<\/h2>\n
Arbitrum Grants Program<\/h2>\n