In an unexpected turn of events, layer-2 blockchain Optimism bypassed its rival Arbitrum in terms of daily transactions, as per the Dune Analytics reports. Optimism recorded 844,290 transactions as of July 25, outperforming Arbitrum’s total count of 630,534. The feat was largely credited to the emergence of Worldcoin (WLD), a brainchild of Sam Altman, the founder of the AI company, Chat GPT.
Despite being launched amidst contentious scrutiny, Worldcoin has successfully garnered not less than 250,000 holders, thanks to an airdrop scheme which rewarded participants for getting their eyes scanned at selected stations worldwide.
Further boosting this victory for Optimism is the appreciation of its native token, OP, which has grown by 4.5% within the last 24 hours. This growth trend challenges the risk of potential sell pressure anticipated from a token unlock slated for this Sunday.
However, it is essential to note that, although Optimism surpassed Arbitrum in transaction numbers, it fell short on the measure of daily active wallets. The former recorded 51,062 daily active wallets compared to the latter’s 63,893.
Moreover, Optimism’s transaction activities owe a significant part to Velodrome, the decentralized exchange (DEX) that rolled out its second version last month. Following this, the Total Value Locked (TVL) on Velodrome witnessed a miraculous leap of 39% in the past month, reaching a striking $258 million according to DefiLlama.
This tale of two blockchains underscores the competitive and unpredictable nature of the crypto industry. On one hand, Optimism’s victory in this round suggests that innovation like implementing new cryptocurrencies, such as Worldcoin, can substantially impact blockchain transaction volumes. On the flip side, Arbitrum’s lead in active wallet users may signify a more robust user base or versatility of applications. Thus, the tug-of-war in different aspects, between Optimism and Arbitrum, shines a light on the diverse directions in which blockchain technology can evolve.
Despite the prestige attached to temporary superiority in aspects like transaction numbers, the larger picture of technology adoption, security, performance, and user experience might hold more long-term significance.
Source: Coindesk
