Bittime - As Ethereum's popularity grew, the blockchain network started experiencing scalability issues. Starting from slow transaction times and so on, it becomes an obstacle for many users and developers.
As a solution, Layer 2 blockchain emerged. Layer 2 blockchain is a solution built on the Ethereum blockchain which aims to increase network scalability, security and efficiency.
The Layer 2 blockchain can process transactions more quickly and cheaply compared to the main Ethereum blockchain. This allows more users to access and use dApps (decentralized applications) on Ethereum.
Today, there are a variety of Layer 2 solutions available, with different technologies and features. Each solution has its own advantages and disadvantages. In this article, we will discuss the 5 Most Popular Layer 2 Blockchains according to Cryptorank data, Let's Take a Look!
zkSync Era
Sumber: Cryptorank
zkSync Era previously known as zkSync 2.0, is a Layer 2 protocol that uses ZK-Rollup technology to improve the scalability of the Ethereum blockchain.
ZK-Rollup is a type of Layer 2 solution that uses cryptographic mathematical proofs, instead of including all transaction data on the main blockchain, to verify the validity of transactions.
This allows zkSync Era to process transactions faster and cheaper than the main Ethereum blockchain, without sacrificing security. Based on data, zkSync Era is able to package 393K (Average Active Address) with $268M TVL.
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Decision
Arbitrum is a Layer 2 solution designed to improve the scalability of the Ethereum blockchain. The platform uses Optimistic Rollup technology to process transactions off-chain, enabling faster and cheaper transactions compared to the main Ethereum blockchain.
Based on data, Arbitrum ranks 2nd most popular layer 2 blockchain by packing 171K (Average Active Address) with $6.27B TVL.
Also read: Up 8.9% in 24 Hours, Solana's Next Prediction According to Crypto Academy
Line
Among the various existing Layer 2 solutions, Linea is a newcomer that attracts attention. Developed by ConsenSys, a renowned blockchain company, Linea offers an innovative approach to improving the scalability of the Ethereum network.
Linea is a Layer 2 network based on zkEVM (Zero Knowledge Ethereum Virtual Machine). zkEVM uses Zero Knowledge technology to verify the validity of transactions without the need to reveal all details of the transaction.
As per the data, Linea sits at the third most popular layer 2 blockchain packing 149K (Average Active Address) with $149M TVL.
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Base
Base is a Layer 2 Ethereum solution developed by crypto asset exchange Coinbase. Base is the fourth most popular layer 2 blockchain by packing 112K (Average Active Address) with $1.19B TVL.
Base was officially launched on August 9, 2023. Even though it is relatively new, Base's presence is a sign of the increasing diversity of Layer 2 solutions available in the Ethereum ecosystem.
Optimism
Optimism is a Layer 2 solution that uses Optimistic Rollups technology to improve the scalability and efficiency of the Ethereum network.
Optimism is compatible with the Ethereum Virtual Machine (EVM), so existing dApps on Ethereum can be easily ported to Optimism.
Based on data, Optimism is in the top 5 most popular layer 2 blockchains by packing 85K (Average Active Address) with $1.42B TVL.
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Also read:
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How to Predict Crypto Narratives: A Strategic Guide for Investors
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.
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