In the world of blockchain and cryptocurrency, Layer-2 scaling solutions have gained significant attention due to their ability to address the scalability issues faced by popular networks like Ethereum.
These Layer-2 projects offer faster transaction speeds, improved scalability, and enhanced security, making them attractive to users and developers alike.
In this article, we will explore the top 10 Layer-2 projects based on the number of transactions they have processed in the last 30 days.
1. Arbitrum One
Arbitrum One is a Layer-2 solution designed to enhance the capabilities of Ethereum smart contracts.
By leveraging the power of off-chain computation and reducing the congestion on the Ethereum main chain, Arbitrum One offers users faster and more scalable transactions.
Additionally, the project prioritizes privacy, providing users with additional layers of confidentiality.
In the last 30 days, Arbitrum One has processed a staggering $26.45 million worth of transactions, showcasing its popularity and adoption.
The current market value of Arbitrum’s native cryptocurrency stands at $1.451 billion.
2. zkSyncEra
zkSyncEra is a Layer-2 protocol that enables users to enjoy the features of Ethereum in a faster and more convenient manner, without compromising on security.
With zkRollup technology, zkSyncEra achieves high throughput and scalability while maintaining the trustless nature of the Ethereum network.
In the last 30 days, zkSyncEra has facilitated trading volume amounting to $15.26 million, solidifying its position as one of the leading Layer-2 projects.
3. ImmutableX
ImmutableX is a Layer-2 protocol and scaling solution specifically designed for Non-Fungible Tokens (NFTs) on the Ethereum blockchain.
By leveraging the power of zkRollup technology, ImmutableX offers users fast and cost-effective transactions while ensuring the security and immutability of NFTs.
In the past 30 days, the protocol has processed a trading volume of $8.41 million, highlighting the growing interest in NFTs and their associated Layer-2 solutions.
The market value of ImmutableX’s native crypto asset currently stands at $670.938 million.
4. Optimism
Optimism is a prominent Layer-2 scalability solution for Ethereum, aiming to provide higher transaction speeds and improved scalability while leveraging the security of the Ethereum main chain.
With its optimistic rollup technology, Optimism enables users to enjoy fast and low-cost transactions.
In the last 30 days, Optimism has processed a trading volume of $7.75 million, demonstrating its potential to enhance Ethereum’s ecosystem.
The market value of Optimism’s native crypto asset is currently $910.147 million.
5. dYdX
dYdX is a comprehensive DeFi platform that offers users a wide range of services, including lending, borrowing, margin trading, perpetual contract trading, and spot trading.
With its Layer-2 solution, dYdX enhances the efficiency and scalability of these services, providing users with a seamless trading experience.
In the last 30 days, dYdX has processed a trading volume of $5.72 million, showcasing its popularity among DeFi enthusiasts. The market value of dYdX’s native crypto asset stands at $307.102 million.
6. StarkNet
StarkNet is a decentralized zkRollup running as a Layer-2 chain on the Ethereum network.
By aggregating multiple transactions into a single proof, StarkNet achieves scalability and cost-effectiveness without compromising on security.
In the last 30 days, StarkNet has processed a transaction volume of $4.93 million, highlighting its growing usage and potential.
7. Apex
Apex is a decentralized Layer-2 protocol that aims to enhance the scalability and efficiency of blockchain applications.
With its innovative design, Apex enables faster and more cost-effective transactions, making it an attractive solution for developers and users.
In the past 30 days, Apex has recorded a transaction volume of $2.83 million, indicating its growing adoption within the blockchain community.
The current market value of Apex’s native crypto asset is $11.585 million.
8. Arbitrum Nova
Arbitrum Nova is a newly created chain that utilizes Arbitrum’s AnyTrust technology, specifically tailored for gaming and social apps.
By leveraging the capabilities of Layer-2 solutions, Arbitrum Nova offers faster and more scalable transactions, providing a seamless experience for users.
In the last month, the chain has processed a transaction volume of $2.73 million, showcasing its potential in the gaming and social app sectors.
9. zkSync Lite
zkSync Lite is a protocol that enables scalable and low-cost payments on the Ethereum network, powered by zkRollup technology.
By aggregating multiple transactions into a single proof, zkSync Lite achieves high throughput while maintaining the security of the Ethereum blockchain.
In the last 30 days, zkSync Lite has processed a transaction volume of approximately $1.82 million, highlighting its efficiency and cost-effectiveness.
10. Sorare
Sorare is an innovative NFT fantasy football game that allows users to buy, own, and sell digital player cards from over 180 licensed football teams.
With its integration of Layer-2 solutions, Sorare ensures fast and secure transactions, enhancing the overall gaming experience.
In the past 30 days, Sorare has recorded a transaction volume of approximately $959,000, showcasing the growing interest in NFT-based gaming.
Conclusion
It’s important to note that the market values and transaction volumes of these Layer-2 projects are dynamic and subject to change based on market conditions and user adoption.
The data provided in this article reflects the information available at the time of writing.
As the blockchain industry continues to evolve, these Layer-2 projects play a vital role in addressing scalability challenges and unlocking the full potential of decentralized applications.
In conclusion, the adoption of Layer-2 solutions has become increasingly important in addressing the scalability issues faced by blockchain networks like Ethereum.
The top 10 Layer-2 projects listed in this article have demonstrated their ability to enhance transaction speeds, improve scalability, and provide more cost-effective solutions while maintaining the security of the underlying blockchain.
Projects like Arbitrum One, zkSyncEra, and ImmutableX have showcased impressive transaction volumes in the last 30 days, indicating their growing popularity and usage within the blockchain ecosystem.
These Layer-2 protocols offer users enhanced functionalities, such as privacy features, faster transaction processing, and improved user experiences.
Optimism, dYdX, StarkNet, Apex, Arbitrum Nova, zkSync Lite, and Sorare are also making significant contributions to the Layer-2 landscape.
They provide unique features tailored to specific use cases, including decentralized finance services, gaming, and NFT applications. Their transaction volumes highlight the increasing adoption and interest in Layer-2 solutions across various sectors.
It is important to note that the market values and transaction volumes of these Layer-2 projects can fluctuate over time, influenced by market dynamics and user demand.
However, the growing number of transactions and the market values of these projects reflect their potential in addressing scalability challenges and driving the future development of decentralized applications.
As the blockchain industry continues to evolve, Layer-2 solutions will play a crucial role in enabling the mainstream adoption of blockchain technology.
By improving transaction speeds, scalability, and cost-efficiency, these Layer-2 projects contribute to a more seamless and user-friendly blockchain ecosystem.
It is worth monitoring the progress of these Layer-2 projects, as their advancements will shape the future of decentralized applications and revolutionize various industries.
As blockchain technology continues to gain traction, Layer-2 solutions offer promising opportunities for developers, businesses, and users alike, paving the way for a more scalable and efficient blockchain ecosystem.
