Arbitrum One Surpasses 13 Million Priority-Fee Transactions

Arbitrum One has exceeded 13 million transactions involving priority fees, indicating continued activity on Ethereum’s layer-2 network and demand for faster transaction processing. Arbitrum is designed to increase Ethereum’s transaction throughput and reduce costs. Its priority-fee system lets users compete for earlier transaction ordering when network demand is high. The milestone follows Arbitrum One’s replacement of Timeboost with a Priority Gas Auction system on Sept. 24. The system divides each 250-millisecond block into two 125-millisecond rounds and ranks transactions by their priority fees. Transactions offering higher fees can be selected earlier within a round.

Source: TokenPost