- Ethereum’s layer 2 options are witnessing an unbelievable surge.
- Over the previous yr, L2 transactions have grown from 20% to 64%.
- Current airdrops and consumer development are driving the adoption of layer 2 options.
Ethereum’s Layer 2 (L2) answer skilled a notable surge, with transaction quantity up from simply 20% a yr in the past to round 64%, in response to knowledge.
Well-liked analytics agency Dune Analytics just lately featured a dashboard created by J. Hackworth, a knowledge scientist at Variant Fund. This dashboard has acquired a substantial amount of consideration because it gives worthwhile insights to check the exercise of Ethereum’s Layer 1 (L1) and its L2 options.
A yr in the past, simply 20% of transactions have been carried out on L2 options, in response to the dashboard, however that quantity has since skyrocketed to round 64%.
Layer 2 options are quickly catching up with L1, exhibiting a noticeable change in transaction quantity. Final yr alone, L2 noticed a staggering spike of about 332,000 transactions, whereas L1 recorded about 380,000 transactions.
If this upward pattern continues, specialists predict that L2 options may dominate Ethereum’s transactional panorama inside the subsequent 12 months. The turning level on this transformation got here in late December 2022 for him.
Particularly, with regards to lively customers, L2 options have solely just lately began to catch up, with important will increase seen within the second quarter of this yr. Final week, about 272,134 distinctive his L2 addresses have been actively concerned in his ETH community, whereas L1 recorded about 392,102 distinctive addresses.
A dashboard created by J. Hackworth reveals the components driving this consumer development. Current airdrops reminiscent of Optimism (OP) and Arbiad ARBI are essential in attracting new individuals to the Ethereum ecosystem.
Regardless of spectacular progress with layer 2 options, Ethereum stays considerably bigger than particular person L2 networks. Nonetheless, the surge in adoption over the previous yr is evident, exhibiting a constructive outlook for Ethereum’s scalability and transaction effectivity.
