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zkSync Surpasses Ethereum in Transaction Volume
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zkSync Surpasses Ethereum in Transaction Volume

Dec 29, 2023

Thanks to the popularity of the Ordinals analog, the monthly transaction volume in the zkSync Era network surpassed that of Ethereum. In the last 30 days, the L2 network zkSync recorded 34.67 million transactions, while Ethereum logged 34.16 million. The Arbitrum network also showed high activity with 31.43 million transactions.

Analysts at The Block attribute the increase in on-chain activity in zkSync to the launch of "inscriptions." A record transaction volume was recorded on December 16th, when the Ordinals analog appeared in the network. On that day, "inscriptions" accounted for 4.6 million of the 5.3 million transactions in zkSync.

Ordinals analogs, which allow embedding data into the blockchain, exist not only in Ethereum but also in other blockchains such as Avalanche and Fantom. For instance, in the Avalanche C-Chain network, transactions related to "inscriptions" account for over 85%. This indicates a growing interest in new forms of blockchain technology use, extending beyond traditional financial operations.

On December 25th, the zkSync Era network experienced a temporary suspension of block production due to an error in the algorithm for calculating network state updates. This event highlights the importance of reliability and stability in blockchain technologies, especially in the context of increasing activity and innovations in networks.

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