Arbitrum One Hits 1 Billion Transactions in Just 3 Years

This week, Arbitrum One, the optimistic rollup solution for Ethereum’s Layer 2, has crossed the milestone of 1 billion transactions. This achievement has been reached within three years of its mainnet launch, which occurred in August 2021.

As of October 1st, Arbiscan documented a cumulative total of 1.003 billion transactions.

For comparison, Coinbase’s Layer 2 network, Base, has recorded 755 million transactions thus far, while OP Mainnet trails with 347 million.

Arbitrum One distinctly leads in total value locked (TVL) among Layer 2 solutions, currently at $14.3 billion, whereas Base holds $7.32 billion and OP Mainnet has $6.57 billion, as per data compiled by L2Beat.

Last month, Paxos, a stablecoin issuer, revealed its intention to launch products on Arbitrum One. The partnership aims to enhance institutional integration on the Arbitrum network and facilitate the tokenization of real-world assets.

Through its partnership with Arbitrum, the company plans to leverage Ethereum’s robust liquidity at heightened speeds and lower costs, while also engaging with Arbitrum’s vibrant DeFi ecosystem.

While considering Arbitrum One as the inaugural Layer 2 chain to partner with Paxos, Walter Hessert, the Head of Strategy at Paxos, stated,

“We are thrilled to collaborate with Arbitrum to transition more real-world assets on-chain. Arbitrum is recognized for its speed, security, and scalability, all of which are essential for fostering the long-term adoption of digital assets across various sectors. In the next three years, we anticipate a significant increase in the adoption of stablecoins among both retail and institutional users, and Paxos aims to lead that transformational shift.”