The Ethereum ecosystem has just posted a new record high in transactions per second, with high-speed Ethereum layer 2 Lighter now being factored into the count.
Data from Growthepie shows that within the last 24 hours, there was one point where 24,192 transactions processed in a single second — the highest on record.
It came after the platform started including transactions from the decentralized perpetual futures platform Lighter.
Transactions on Lighter are even blowing the Base Chain out of the park, processing around 4,000 transactions per second in comparison to Base’s 100 to 200.
Ethereum enthusiasts are buzzing about the new milestone, an area of the network that has been a focus alongside decentralization and security features.
Ethereum’s Pectra and Dencun upgrades introduced features that improved transaction throughput on Ethereum layer 2s.
“Ethereum is scaling,” Ethereum co-founder Vitalik Buterin and others posted to X on Wednesday as Ethereum hit a new record TPS, and continued to clock more in the hours following.
“L2s are now adding a 200x scaling factor to Ethereum” since October, said Bankless podcast host Ryan Sean Adams, who attributed it to the rise of Lighter and its heavy use of zero-knowledge proofs.
“The big Zk unlock is just starting to hit Ethereum L2s,” he said, while telling his 272,000 X followers to watch for 100,000 TPS and eventually 1 million in the months ahead.
Lighter is faster than Solana… with more network outages
Despite Lighter’s near-unrivaled speed, it has suffered multiple network outages since launching on Oct. 1, resembling Solana in its early days.
Related: Balancer releases preliminary post-mortem report after $116M hack
The Lighter team compensated nearly 3,900 wallets $774,872 in USDC (USDC) for its Oct. 28 outage, one of the network’s most notable disruptions to date.
Are L2s good for Ethereum?
Rezso Schmiedt, a founding partner of ₿RRR Capital, asked where the additional value accrual would come from for the Ethereum mainnet.
“Yes, more transactions. But where’s the value accrual? L2s capture fees, not ETH. This question remains open.”
While Ethereum layer 2s boost the ecosystem’s overall scalability, concerns have arisen that their rise has eroded Ethereum’s dominance as a layer 1 across several key metrics, including decentralized exchange volume and fees generated.
Much of the Ethereum community still sees value in Ethereum layer 2s; however, aligning incentives between the two — such as through fee sharing, MEV capture and protocol integrations — is crucial to ensure sustainable value flows back to Ether (ETH).
Magazine: Solana vs Ethereum ETFs, Facebook’s influence on Bitwise: Hunter Horsley
