Ethereum Ecosystem Achieves Unprecedented 24,192 TPS Amid L2 Innovations

The Ethereum ecosystem has achieved a new historic high for transactions per second (TPS). Following the incorporation of data from the L2 networks linked to the decentralized exchange Lighter, the metric reached 24,192, as reported by Growthepie.

Lighter’s throughput surpasses 4,000 TPS, significantly outpacing the second-level solution Base, which manages between 100 to 200 transactions per second.

The technological advancements driving this record are the hard forks Pectra and Dencun, which have dramatically enhanced the transaction processing speed of L2 networks.

Ryan Sean Adams, host of the Bankless podcast, noted that the scalability of the ecosystem has increased by 200 times since October, attributing this growth to the rise of ZK technologies and predicting that TPS could reach 100,000 in the coming months.

Ethereum co-founder Vitalik Buterin commented on this achievement, emphasizing that the second-largest cryptocurrency blockchain is indeed «scaling.»

The decentralized exchange for perpetual contract trading announced the launch of its mainnet under the same name at the start of October.

To verify transactions, the system utilizes technologies based on zero-knowledge proofs.

According to the developers, the blockchain’s key benefits include instant order execution, no slippage, and low fees for retail users.

Since its release, Lighter has faced several disruptions, with the most significant occurring at the end of October when the network failed to process blocks for half an hour.

The team explained that the issue stemmed from the activity of automated bots making fake trades. Consequently, the price of HYPE from Hyperliquid surged on the exchange from $47 to $98 in just one minute.

The platform compensated affected users with $774,872 in USDC stablecoin.

It’s worth noting that at the end of September, on the decentralized exchange Aster, the price of XPL from the stablecoin project Plasma unexpectedly rose from $1.3 to $4 due to a flaw in the perpetual contract of the token.