zkSync Surpasses Ethereum Mainnet Transactions with 34.7 Million

In the past 30 days, zkSync, a Layer 2 scalability solution for Ethereum, processed 34.7 million transactions, more than those recorded on the Ethereum mainnet in the same period.

According to L2Beat data, a cumulative count of 34.2 million transactions took place on the mainnet of Ethereum throughout the corresponding time frame. Arbitrum followed with 31.4 million transactions processed in the previous thirty days.

The recent surge in transaction volume on zkSync has been attributed to the proliferation of inscriptions. This attribute originated on Bitcoin and has since spread to EVM networks, encompassing the majority of Layer 2 chains.

According to data provided by L2Beat, zkSync witnessed its most substantial monthly transaction surge on December 16.

Dune data aggregated by Dragonfly analyst Hildobby indicates that 4.6–5.3 million transactions that day were attributed to sync inscription, which was implemented on the network then.

zkSync functions as a Layer 2 network on the mainnet of Ethereum. Through the consolidation of hundreds or thousands of transactions into a solitary cryptographic proof, it expedites and reduces the cost of transaction verification in comparison to the mainnet.

Inscription-related transactions have bolstered zkSync’s overall activity since mid-December, enabling the decentralized platform to surpass Ethereum and its Layer 2 counterparts.

Similar to Ordinals on Bitcoin, inscriptions are data embeds discovered in transaction call data that can be utilized to generate alternative tokens and NFTs.

Ethscriptions on Ethereum, Doginals on Dogecoin, and Solana Inscriptions on Solana are examples of such tokens.