The future of gaming will be drastically different from today as blockchain becomes a mainstay in the industry. This article discusses how Ethereum-powered games are changing traditional models to deliver cutting edge experiences, providing unparalleled transparency and security for gamers while making the entire process more engaging thanks to cryptocurrency payment options.
The “ethereum layer 2 projects” is a problem that has been present for a while. There’s over $4.2 billion locked in Ethereum layer-2 protocols, which are currently uneconomical to use.
According to statistics from analytics platform L2BEAT, Ethereum’s layer-2 scaling solutions have never had more value locked in.
Layer-2 TVL surged by more than 44% in less than a month, thanks to rising petrol prices pushing the adoption of networks like Arbitrum, Optimism, and Loopring.
Users are pouring money into L2s as Ethereum costs continue to rise.
The average transaction cost on Ethereum is perilously close to reaching an all-time high, making the network more unaffordable for the ordinary user.
While transaction prices have stabilized at $36, BitInfoCharts data shows that the average transaction fee on Ethereum was above $62 in the beginning of November.
From January 2021 to November 2021, the average transaction cost on Ethereum was graphed (Source: BitInfoCharts)
As a result, a record number of customers have switched to the network’s Layer 2 solutions, which have substantially cheaper costs and far quicker transaction completion.
The total value locked (TVL) in Ethereum’s Layer2 solutions has achieved an all-time high, topping 1.4 million ETH, according to data analytics company L2BEAT. This is around $6.13 billion at today’s pricing.
The total value locked (TVL) in Ethereum’s Layer2 solutions is shown in this graph (Source: L2BEAT)
Arbitrum has the greatest share of the Layer2 market, with little over 43% of the TVL and a market value of $2.67 billion. With a 15% market share worth $975 million, dYdX is in second place, followed by the recently established Boba Network in third place with $863 million.
Loopring, Optimism, and ZKSwap V2 are the most well-known, with $580 million, $461 million, and $218 million in TVL, respectively.
The top ten Ethereum Layer2 solutions ranked by total value locked are shown in the table below (TVL) (Image courtesy of L2BEAT)
The data seems to back with the market’s general view on Ethereum. Even the industry’s most powerful investors have spoken out about Ethereum’s fee issue, with several considering partnering with rivals like Avalanche.
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The “chain link layer 2” is a problem that has been present for a while. The “There’s over $4.2 billion locked in Ethereum layer-2 protocols.” is a problem that has been present for a while.
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