How does uniswap process so many transactions on the clogged ethereum network?

Question

According to info.uniswap.org, the number of uniswap transactions in the last 24 hours was 136,383.

This amounts to approximately 136383 / 24 / 60 / 4 = 24 transactions per block.

It appears that with basic ether transactions, you'd be able to approximately triple that volume in a single block.

How does uniswap process that many transactions on ethereum when there is so much competition to get transactions included in the blockchain?

Is uniswap actually accounting for about 33% of all transactions? (And if the gas used for uniswap transactions is more than that of regular ether transactions, wouldn't this be actually higher than 33%?)

Or does uniswap use some other mechanism to allow more transactions to take place without hogging the ethereum network?

Answer 1

It appears that with basic ether transactions, you'd be able to approximately triple that volume in a single block.

Current block gas limit is ~12.5 Mgas. A normal EOA -> EOA transfer is 21,000 gas. That equates to ~595 transactions per block.

But miners will (usually, probably) prioritise transactions on their gas price, not gas cost, so EOA -> contract transactions will take priority if they earn the miner more.

How does uniswap process that many transactions on ethereum when there is so much competition to get transactions included in the blockchain?

The users are paying the higher gas prices as dictated by the current state of the gas market.

Is uniswap actually accounting for about 33% of all transactions?

According to EthGasStation, Uniswap (v2) has 11.35% of the entire network's transaction count. To corroborate, Etherscan has the gas usage at 12% of the entire network.

(Further reference: CryptoFees -> https://cryptofees.info/)