Ethereum $3,197.8 Layer-2 protocols stand out with Coinbase’s BASE platform by increasing transaction volume like never before. According to growthepie.xyz data, the total transaction volume of layer-2 protocols reached its highest level, reaching 29.64 million gas units per second. BASE is the leader, accounting for 67% of total volume.
Data Details
Layer-2 protocols are scaling solutions built on top of underlying blockchains. These protocols aim to achieve higher transaction volumes at lower costs on major blockchains such as Ethereum. The millions of gas units per second metric reflects the number of transactions the network processes each second.
Azure Solutions and Cost Impact
Layer-2 protocols have the capacity to handle more transactions while also reducing transaction costs. Users pay gas fees to process their transactions, and these fees can be kept at lower levels thanks to the efficiency of layer-2 solutions.
Future Concerns
This increased transaction volume brings with it concerns that the constant demand for layer-2 solutions may quickly exceed the available capacity. In your opinion, users and developers are cautious about the sustainability of layer-2 protocols.
The success of Ethereum layer-2 protocols represents a critical step towards broader adoption of blockchain technology. These solutions improve user experience while reducing network congestion.
The leading position of Coinbase’s BASE platform may play an important role in the future development of layer-2 technologies. Other blockchain projects continue to compete in this space with similar strategies.
Increasing demands of users and development of technology may require further optimization of layer-2 solutions. In this process, striking a balance between security and speed stands out as a significant challenge.
The development of Layer-2 protocols is vital for the sustainable growth of the Ethereum ecosystem. Greater user and developer involvement can solidify the success of these technologies.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
