Base and Arbitrum account for half of the TVL, energetic addresses, DEX quantity, and transactions on Layer 2s, whereas roughly 10 networks account for greater than 90%.
Regardless of issues relating to the fragmentation of liquidity throughout Ethereum’s increasing Layer 2 ecosystem, two chains have been rising their dominance over L2 property and exercise.
Information from L2beat exhibits Arbitrum accounting for 39.6% of the full worth locked (TVL) on Layer 2s with $16.9 billion, adopted by Base with 17% or $7.22 billion — equating to a mixed dominance of 56.6%. OP Mainnet ranks third with a decent 14.9% dominance or $6.32 billion TVL.
In accordance with GrowThePie, Arbitrum and Base additionally make up 59% of transaction quantity throughout 23 Layer 2 networks. Base leads the pack with 3.16 million transactions in 24 hours or a 36.8% dominance, adopted by Arbitrum with 1.99 million transactions or a 22.2% market share. Blast is third with 605,000 transactions or 8% of the full.
Arbitrum, Base, and Linea are basically tied by the variety of energetic addresses, with the networks internet hosting 24%, 24.25%, and 24.8% of the two.45 million every day Layer 2 customers.
In accordance with GeckoTerminal, Arbitrum and Base additionally account for 48.4% of the mixed quantity throughout the highest 25 Layer 2 networks by decentralized alternate exercise
The information repeatedly exhibits that based mostly on key metrics, Arbitrum and Base make up roughly half of the Layer 2 ecosystem, with numerous networks coming in third place.
The information challenges the notion that Ethereum’s Layer 2s are establishing a fractured ecosystem of siloed chains, with the majority of exercise happening on two networks.
Additional, the highest 9 Layer 2s make up greater than 90% of the L2 sector’s TVL, transaction depend, energetic addresses, and DEX alternate quantity. The information exhibits {that a} handful of networks host the lion’s share of property, customers, and transactions, regardless of an ever-expanding periphery competing for the crumbs.
Overcoming bridges
Regardless of the consolidation of Ethereum’s main L2s, there are plain challenges related to its Layer 2 ecosystem.
ZKsync, a high Ethereum scaling workforce, lately highlighted the capital inefficiency of cross-chain bridges as a major disadvantage of the Layer 2 ecosystem.
“As the number of independent blockchains as well as optimistic rollups grows, the capital that needs to be available in these bridges will have to grow quadratically,” ZKsync stated. “Ethereum-aligned rollups have achieved impressive cumulative throughput capacity, [but] this progress came with a massive deterioration in user experience, capital efficiency, and network integrity.”
ZKsync is amongst a rising cohort of scalability groups looking for to ascertain ecosystems of interconnected Layer 2 chains, overcoming the inefficiency of bridging within the course of.
ZKsync laid the groundwork for “Elastic Chain” scaling with its 3.0 improve final month, following Optimism’s Bedrock improve in June 2023, and Polygon’s AggLayer in January. Every undertaking seeks to foster a multi-chain ecosystem of symbiotic networks leveraging the identical tech stack within the type of the ZK Stack, OP Stack, and Polygon CDK, respectively.
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