Summary
Mantle, a new network, achieved a daily throughput of 14 transactions per second (TPS), surpassing Ethereum’s throughput of 14.4 TPS. However, the high throughput was short-lived, as Mantle’s daily TPS dropped to just 3 the following day. Inscriptions, which involve creating tokens by inscribing data to the smallest denomination of a network token, have gained popularity across new networks supporting Ethereum Virtual Machine (EVM) smart contracts. The surge in inscription activity has led to congestion and outages on various networks, including ZkSync Era and Arbitrum.
Key Points
1. Mantle, a new network, achieved a daily throughput of 14 transactions per second (TPS) compared to Ethereum’s 14.4 TPS, marking a significant increase in inscription activity and a 543% daily uptick.
2. Inscriptions, which involve inscribing data to the smallest denomination of a network token, have gained popularity across various networks, with developers deploying inscription protocols on chains supporting Ethereum Virtual Machine (EVM) smart contracts.
3. The surge in inscription transactions has caused congestion and outages on several networks, including Arbitrum and ZkSync Era, which experienced record daily throughputs of 62 TPS and 59 TPS respectively, surpassing Ethereum’s average of 12.2 TPS. These networks have faced challenges in handling the enormous volume of transactions and have had to address issues such as database upgrades and undercharging gas fees.