In a surprising turn of events this week, Optimism (OP) managed to surpass Arbitrum (ARB) in terms of daily transaction count for the first time since the beginning of the year. This noteworthy shift is largely attributed to the launch of a new digital identity blockchain project, Worldcoin (WLD).
A Closer Look at the Surprising Shift
The OP network recorded nearly 945,000 transactions in a single day, a significant leap from its usual figures. In contrast, ARB maintained its usual range of 600,000 to 700,000 transactions per day. This is the first time in over six months that Optimism has managed to surpass Arbitrum in the daily transaction count.
Role of Worldcoin in this Development
The new digital identity blockchain project, Worldcoin, has been instrumental in this sudden surge. The project, co-founded by Open AI’s Sam Altman, transitioned to the OP mainnet last week. It uses unique technology, iris scans with physical hardware named ‘Orbs’, to create unique digital identities. However, it has already come under scrutiny by France’s privacy watchdog, the CNIL, due to concerns over its biometric data collection methods.
Impact on the Cryptocurrency Market
At the time of writing, WLD was trading at $2.22, marking an increase of nearly 6% in the last 24 hours. The 136th-ranked crypto asset by market cap, OP, was trading at $1.48, down 1.35% in the past 24 hours. ARB, on the other hand, was trading at $1.17, up 0.36% in the past 24 hours.
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