zkSync overtook Ethereum in the number of transactions per month with a result of 34,7 million transactions

A surge in user activity occurred after the Inscriptions feature was added

29.12.2023 - 08:30

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3 min

What’s new? Over the past 30 days, zkSync, a Layer 2 (L2) network, processed 34,7 million transactions, surpassing Ethereum’s main blockchain (34,2 million). According to L2Beat, zkSync saw its largest daily spike in activity on December 16, which is when developers added support for Inscriptions, resulting in 4,6 of the 5,3 million daily transactions being for the new asset type. The Inscriptions feature initially appeared on the bitcoin network and later spread to Ethereum Virtual Machine (EVM)-compatible networks, including most L2-based blockchain solutions.

The Block’s material

What else is known? EVM Inscriptions are digital artifacts such as text, video, image or code embedded in transactions. The calldata section of transactions, which does not contain financial information, is used to store them.

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In turn, the Ordinals protocol in the Bitcoin network allows the creation of NFTs (Inscriptions) by linking data to the smallest fraction of a bitcoin (satoshi). At the same time, Bitcoin Core client developer Luke Dashjr called the possibility of bitcoin NFTs release a consequence of the network vulnerability, and the US Department of Commerce, based on his statements, recognized bitcoin NFTs as a cyber threat.

On December 25, a failure occurred in the zkSync network. Due to an error, a security protocol was activated on the server, which suspended block processing for several hours. On December 16, after the launch of Inscriptions, the network also experienced problems due to increased activity.

In September, Coin98 analysts also reported that ZkSync overtook Ethereum in the number of transactions per month, 32,5 million vs. 32,3 million. At the same time, the total fee per 1000 transactions in ZkSync was 13,5 times lower.

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