Check Today's Crypto Market:
Bittime - Layer 2 is an additional protocol or framework that is built on top ofexisting blockchain The main goal of this protocol is to increase the speed and scalability of transactions on major crypto networks.
Layer 2 projects use various techniques, such as rollup, sidechain, state channel, and plasma, to move some of the computing and storage load from layer 1 to layer 2. Thus, they can offer lower transaction costs, higher speed , and better privacy.
Top 10 Crypto Layer 2 Projects 2024
The following are 10 crypto layer 2 projects that will attract attention in 2024:
Polygon (MATIC)
Polygon is a layer 2 platform that supports various scalability solutions, such as rollup, sidechain, and plasma. Polygon aims to create an open internet of value connected to Ethereum and other blockchains. Polygon has a native token called MATIC, which is used to pay gas fees, participate in governance, and secure the network.
Immutable (IMX)
Immutable is a layer 2 platform focused on gaming and NFTs. Immutable uses zero-knowledge proof technology to validate transactions on Ethereum without compromising security or decentralization. Immutable has a native token called IMX, which is used to pay gas fees, access premium features, and earn rewards.
Optimism (OP)
Optimism is a layer 2 platform that uses optimistic rollup to improve Ethereum's scalability and interoperability. Optimism enables developers to run complex smart contracts with low gas fees and fast turnaround times. Optimism has a native token called OP, which is used to pay gas fees, participate in governance, and secure the network.
Mantle (MNT)
Mantle is a layer 2 platform that uses zk-rollup to provide decentralized data services for Web3 applications . Mantle enables users to store, access, and share data securely and efficiently across multiple blockchains. Mantle has a native token called MNT, which is used to pay gas fees, participate in governance, and secure the network.
Arbitrum (ARB)
Arbitrum is a layer 2 platform that uses optimistic rollups to improve Ethereum's scalability and interoperability. Arbitrum enables developers to run complex smart contracts with low gas fees and fast turnaround times. Arbitrum has a native token called ARB, which is used to pay gas fees, participate in governance, and secure the network.
Also read How to Buy Crypto:
Starknet (STRK)
Starknet is a layer 2 platform that uses zk-rollup to improve Ethereum's scalability and privacy. Starknet enables developers to run complex smart contracts with low gas fees and fast turnaround times. Starknet has a native token called STRK , which is used to pay gas fees, participate in governance, and secure the network.
Dymension (DYM)
Dymension is a modular layer 2 crypto project and blockchain ecosystem consisting of various custom rollups. Dymension divides functions such as execution, consensus, and data availability to improve the security and speed of each RollApp. Dymension also supports IBC protocol compatibility with other blockchains. DYM's native token is used for governance, staking, and gas fees.
Dymension offers a variety of Web3 services and applications, such as DeFi, NFT and others. Dymension has the potential to rise in price in the future, with average estimates of $7.51 in 2024, $10.81 in 2025, and $15.55 in 2026.
Coti (COTI)
Coti is a crypto layer 2 project that was originally designed for Cardano, but later switched to Ethereum with a focus on privacy. Coti uses COTI tokens for various functions, such as transaction fees, staking, governance and more. Coti also changed from DAG to EVM consensus, and retained the garbled circuits privacy feature.
Coti hopes to improve transaction efficiency, interoperability, and privacy-oriented application development by using the Ethereum layer 2 blockchain. Coti has a positive price outlook in the future, with an average forecast of $0.195 in 2024, $0.297 in 2025, and $0.383 in 2026.
SKALE (SKL)
SKALE is a layer 2 platform that uses sidechains to provide decentralized cloud services for Web3 applications. SKALE enables developers to build and run scalable, fast, and inexpensive applications on the SKALE network connected to Ethereum. SKALE has a native token called SKL, which is used to pay gas fees, participate in governance, and secure the network.
Loopring (LRC)
Loopring is a layer 2 platform that uses zk-rollup to provide decentralized exchange and payment services for crypto assets. Loopring allows users to carry out transactions and exchange crypto assets with low gas fees and fast settlement times. Loopring has a native token called LRC, which is used to pay gas fees, participate in governance, and secure the network.
Difference between Layer 2 and Layer 1 Projects
The basic design of a decentralized crypto network is a layer 1 blockchain. Examples of layer 1 blockchains are Cardano, Ethereum, and Bitcoin. Layer 1 blockchains use shared consensus methods, such as proof of work (PoW) or proof of stake (PoS), to manage the processes and security of the crypto network.
Network protocols built on layer 1 solutions are called layer 2 blockchains, which have been discussed in this layer 2 crypto list. Although layer 2 protocols are more flexible in improving transaction processing and network capacity, they still depend on layer 1 blockchains for network architecture and security.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappbeti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Layer 1 vs Layer 2 Blockchain, What's the Difference?
What is Linea: Blockchain Layer 2 Made by Consensys
MetisDAO (METIS): Ethereum Layer 2 Scalability Solution
Unlocking Blockchain Scalability Potential with Layer-2 Scaling Solution
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.