#Ethereum Layer 2 Protocols on the Rise !!!

Since the beginning of 2022, the Ethereum scaling protocols #Optimism and #Arbitrum have seen a steady rise in transaction volume.

These two Ethereum #Layer2 protocols stand out as the most popular ones with a market share of 50% and 30%, respectively.

In the ever-evolving realm of Layer 2 blockchain solutions, Base has shattered records with its meteoric rise.

Since its official mainnet launch on August 9, 2023, Base impressively amassed 1 million unique addresses in just 11 days. 

Remarkably, even before its official launch, it had garnered 532k addresses as users flocked to it through unofficial bridges. This rapid adoption surpasses the timelines of its predecessors, as both Arbitrum and Optimism took 303 and 191 days, respectively, to reach the same milestone. 

Meanwhile, zkSync stands as a true speedster, achieving the feat in a mere 71 days since its Era mainnet debut on March 25, 2023, boasting over 1 million addresses by June 3, 2023.




#Layer2 #Blockchain #BASE #zkSync #Optimism #Arbitrum #Crypto #Coinpedia

#Ethereum #layer2 debate focuses on modularity for adaptability and easier integration of updates. #Crypto

Kenny Li advocates for modular approach in #blockchain development, sparking discussions about Ethereum layer 2 solutions.
https://coinpedia.org/news/ethereum-l2-networks-only-few-l2-altcoins-will-survive-in-next-5-years/

#Ethereum Fees Plunge to Five-Year Low

🔵Ethereum transaction fees have hit a five-year low, with some low-priority transactions costing around 1 gwei or less.

🔵On August 10, Ethereum's median gas fees dropped to 1.9 #gwei, a 98% decrease from March's high.

🔵As of August 12, low-priority transactions taking about 10 minutes were priced at 1 gwei (around seven cents).

🔵The fee drop is due to increased activity on #layer2 networks, reducing load on the Ethereum mainnet.

Source: https://etherscan.io/gasTracker