Key Takeaways:
The Ethereum Layer-2 ecosystem has grown at a feverish pace, with the total value locked currently over $51.5 billion as of November 2024, up 205% from last year.
While L2 addresses Ethereum’s scalability issues, centralization remains an issue, calling for more decentralized solutions.
It indicates growing competition between L2s and other high-speed blockchains, including Solana, both as challenges and opportunities for the Ethereum ecosystem.
The Rise of Layer-2 Networks
According to data from L2Beat, there are 118 Layer-2 scaling solutions listed on the Ethereum network as of December 2024. That is a number indicating great potential and explosion in the handling of Ethereum’s enormous transaction volume by L2s. The total value locked on L2 networks reac ..
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