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Ethereum, the primary blockchain for Web3 development, has seen rapid growth with increasing Web3 participants. This surge has caused decreased processing speeds and rising gas prices, all as a result of Ethereum’s scalability issues. To address these problems, Ethereum layer-2 (L2) solutions have entered the picture. In this guide, we explore the intricacies of layer-2 networks and outline some key L2 projects!
Ethereum layer-2 (L2) solutions refer to a set of scaling technologies designed to address the scalability challenges of the Ethereum blockchain. As Ethereum has become the leading platform for decentralized applications (dapps), decentralized finance (DeFi), and various Web3 projects, increased network activity has led to higher transaction fees and slower processing times.
L2 solutions essentially operate as independent blockchains — running “side by side” the main chain — that complement the Ethereum network. These solutions aim to enhance scalability by processing transactions off the main Ethereum chain, only interacting with the mainnet when necessary. By doing so, they alleviate the congestion on the Ethereum mainnet, leading to faster transaction speeds and significantly lower fees.
One key feature of ETH layer-2 solutions is their ability to maintain the security guarantees of the original Ethereum chain while providing improved performance. These solutions offer higher throughput and lower costs, making it more efficient and cost-effective for users and developers to engage with the Ethereum network.
In summary, Ethereum layer-2 solutions play a crucial role in extending the scalability and accessibility of the Ethereum blockchain, offering a more efficient and affordable experience for users and developers involved in the rapidly growing Web3 ecosystem.
Examples of Ethereum Layer-2 Solutions
- Polygon zkEVM
- Optimism
- Arbitrum
- Base
These are some of the top layer-2 blockchains developers use today. If you’d like to learn more, make sure to check out the content on Moralis.io (for developers) or Moralis Money (for traders) for more information regarding various L1 and L2 projects!
Ethereum, a cornerstone in Web3 development, grapples with scalability issues, including slowed processing speeds and increased gas prices. In response, Ethereum layer-2 (L2) solutions have emerged as scaling technologies. These solutions, operating independently alongside the main Ethereum chain, alleviate congestion, resulting in faster transactions and lower fees while maintaining security features. Examples of prominent L2 solutions include Polygon zkEVM, Optimism, Arbitrum, and Base. For comprehensive information, developers can explore Moralis.io, and traders can find insights on Moralis Money, covering various L1 and L2 projects.
If you enjoyed this article, why not check out the articles on the aforementioned sites? For example, on Moralis.io, you can read about Web3 gaming, find out more regarding ETH layer-2 platforms, discover how to use a Starknet faucet, and how to list all the coins in an ETH address. Additionally, on Moralis Money’s blog, you can read about various platforms, such as the SKL crypto project and the GRT crypto, and discover how to improve your trading skills by reading up on crypto liquidation and how to avoid it!
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