Arbitrum Network Transactions Hit 150 Million with 647,000 ETH in 24 Hours

03/24/2023 10:26 • Metaverse Matters • 86 views

According to reports, according to data from the OKLink multi-chain browser of Ouke Cloud Chain, the total number of transactions on the Arbitrum network has exceeded 150 million, and the online transaction volume in the past 24 hours has exceeded 647000 ETHs. So far, the total number of interactive addresses on the Arbitrum chain has exceeded 6.9 million, and nearly 500000 new addresses have been added in the past 24 hours.

The total number of transactions on the Arbitrum network has exceeded 150 million

Arbitrum is a Layer-2 scaling solution for Ethereum that enhances its capabilities by adding more speed and efficiency. The Arbitrum network is seeing a surge in transactions with the total number of transactions exceeding 150 million, and the online transaction volume in the past 24 hours reaching over 647000 ETHs. As of today, the total number of interactive addresses on the Arbitrum chain has crossed 6.9 million, with nearly 500000 new addresses added in just the past 24 hours.

Overview of Arbitrum Network Transactions

The Arbitrum network has gained popularity among Ethereum users because it alleviates the scaling problem that plagued the network. The Arbitrum network boasts high throughput by using Optimistic Rollups, a technology that allows the off-chain computation of transactions to reduce congestion on the main chain.
Through the increasing adoption of the Arbitrum network, transactions have grown significantly, with the total number of transactions now exceeding 150 million. This growth is driven by more than 6.9 million interactive addresses on the Arbitrum chain, and a growing user base that is moving to Arbitrum to take advantage of its fast and cheap transactions.

Online Transaction Volume in 24 Hours

The online transaction volume in the past 24 hours on the Arbitrum network reached over 647,000 ETHs, an indication of the growing adoption of the network. With more and more users preferring the Arbitrum network for their transactions due to the quick processing time and lower fees, it is expected that the transaction volume will continue to soar.

New Addresses Added on the Arbitrum Chain

The growing adoption of the Arbitrum network is evident from the number of new addresses added in the past 24 hours. With nearly 500,000 new addresses added, the total number of interactive addresses on the Arbitrum chain has exceeded 6.9 million. This massive growth means that more users are discovering the benefits of the network and choosing to switch to it for all their transactions.

Conclusion

The Arbitrum network has proven to be a reliable Layer-2 scaling solution for Ethereum that is solving the scaling problem by enhancing the network’s efficiency and speed. The total number of transactions on the network exceeding 150 million, and the online transaction volume in the past 24 hours hitting over 647000 ETHs, are clear indications that the network is growing at an impressive pace. This growth is driven by the innovation and technology behind the network, making it a popular choice for Ethereum users.

FAQs

**Q: What is Arbitrum?**
A: Arbitrum is a Layer-2 scaling solution for Ethereum that enhances its capabilities by adding more speed and efficiency.
**Q: How is Arbitrum solving the scaling problem?**
A: Arbitrum uses Optimistic Rollups, a technology that allows the off-chain computation of transactions to reduce congestion on the main chain.
**Q: What is the transaction volume on Arbitrum?**
A: The online transaction volume in the past 24 hours on the Arbitrum network exceeded 647,000 ETHs.

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