We all know Layer 2s to be a problem solver for Layer 1s in terms of scalability
Over time, we have seen the rise of many Layer 2s and their performance
In this thread, I will be listing the top Layer 2 projects to watch out for
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Layer 2s became popular due to the high transaction fees and slow speed of Layer 1 such as Ethereum
Since then, the following projects have been gaining lots of tractions
—> Polygon (MATIC)
Polygon allows developers to create secured, user friendly dapps with little to zero
gas fee
Currently, over 400 protocols run on this chain and has been adopted by top crypto and non-crypto brans including Sushiswap, Instagram, Stripe, Quickswap, etc
Market Cap: $5 billion (approx.)
Total Value Locked: $787 million (approx.)
TPS: 65,000
Max Supply: 10 billion
—> Mantle
Backed by BitDAO, Mantle is undoubtedly one of the best L2 out there
It’s EVM-compatible and allows the cross-deployment of applications from it’s mainnet and other EVM chains
It uses optimistic rollups where transactions executed on the chain are gathered before being submitted to the Ethereum network
Market Cap: $1.4 billion
TVL: $36.58 million
TPS: 500
Max Supply: 6.2 billion
—> Arbitrum
Arbitrum has the highest TVL of approx $2 billion after Polygon
Arbitrum solves the issue of Scalability on the Ethereum blockchain by combining multiple transactions into a smart contract message and them sends the Ethereum blockchain for processing
Arbitrum uses its native token, Arb for transaction while the fees are paid in Eth
Market Cap: $1.1 billion
TVL: $2 billion (approx.)
TPS: 40,000
Max Supply: 10 billion
Other top Layer 2 projects you should watch out for;
—> Optimism
—> ImmutableX
—> Loopring
That’s a wrap
If you learnt something from this
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