Optimism Passes Arbitrum: Worldcoin Effect

Worldcoin, the crypto project founded by OpenAI CEO Sam Altman, helped the Optimism network surpass Arbitrum with its launch on the Optimism network.

In the field of Ethereum’s Layer 2 scaling solutions, the latest figures point to a significant shift. As of July 27, Optimism – a network focused on the Layer 2 network and Optimistic Rollups technology – has logged 944,000 daily transactions. According to these data, it surpasses its rival Arbitrum by 660,000 transactions. Importantly, this is the first time Optimism has risen to the lead in daily trading volume since January 2023. The deviation from this six-month trend is primarily attributed to the introduction of Worldcoin on the Optimism network. Worldcoin is a crypto identity project associated with OpenAI’s CEO, Sam Altman, and was recently launched on Optimism, which has increased the effectiveness of the network.

Since the Worldcoin team started deploying user accounts on Optimism from June 2023, the network has gained impressive momentum. The number of daily transactions rose 240% from just under 277,000 since June 1 to 944,000 transactions. In contrast, Arbitrum’s daily transaction count fell slightly, from 745,000 to 660,000 transactions over the same period. Dune Analytics data highlights Optimism’s growing appeal and particularly Worldcoin interest in the network. The number of Worldcoin wallets showing interaction with the protocol is very close to catching 1 million; currently at 961,000 level. It is important to note that this number does not include pre-sale wallets where users have not yet migrated to the Optimism network.

However, Arbitrum still leads in other metrics. According to the data, Arbitrum has the highest value among all Layer 2 solutions with a total locked value of $2.1 billion, while Optimism ranks second with $917 million. Also, Arbitrum appears to be in a leadership position with 123,000 daily active users compared to Optimism’s 89,000. Optimism and Arbitrum are the two leading Layer 2 solutions in terms of adoption. Using optimistic rollup technologies, these networks offer users the ability to transact outside of the main Ethereum blockchain, providing a more economical option compared to the mainnet transaction processing method.