#1 Polygon (MATIC) – $10.7B Market Cap
Polygon (previously Matic) is a Layer 2 resolution powering Ethereum scaling and infrastructure improvement. The wonderful thing about Polygon is that it’s already utilized by many tasks like Sushiswap, Aavegotchi, Chain Video games, Quickswap and many others.
It provides scalable and instantaneous transactions. Every Polygon sidechain can theoretically obtain 2^16 transactions per block. The protocol has achieved as much as 7,000 TPS on a single sidechain on an inside testnet.
That is considerably greater than the 14 transactions per second Ethereum mainnet itself can obtain. Polygon’s token MATIC token is now listed on Coinbase. Due to this fact, it’s the primary entry in our high 5 Ethereum layer 2 tasks listing.
#2 Loopring (LRC) – $933M Market Cap
This Layer 2 scaling resolution for the Ethereum community contains a fee/switch facility and decentralized alternate (DEX). LRC is the native token. The crew has developed zkRollups, which is used to energy the Loopring alternate.
Utilizing the Loopring Pay facility, customers can ship and obtain Ethereum (ETH) or Ethereum based mostly belongings, immediately and free of charge. The zkRollup scales Ethereum 1000x over its nominal capability by transferring most processing on one other chain.
#3 OMG Community (OMG) – $567.8M Market Cap
OMG Community is a Plasma-based Layer 2 scaling resolution, which scales the Ethereum blockchain to hundreds of TPS. It reduces the charges by an estimated 1/third, in comparison with earlier than, all whereas sustaining Ethereum’s safety.
OMG Community does so by transferring the processing of the transaction exterior the Ethereum mainnet, utilizing it just for the ultimate settlement. Additional, it batches the transactions, making the method extra environment friendly and fewer resource-intensive.
The native token is OMG. This scaling resolution is quick, trustless, oriented for borderless monetary companies, immediately settled, low charges, and enterprise-grade.
#4 Skale (SKL) – $379M Market Cap
SKALE community is an open-source safety and execution Ethereum Layer 2 scaling resolution, which depends on elastic facet chains to divert processing off the mainnet.
It consists of high-performance facet chains executing sub-second block occasions, operating as much as 2,000 TPS per chain. Skale can help full-state sensible contracts, decentralized storage, execute Rollups, and machine studying in EVM.
They provide velocity/performance with out compromising safety or decentralization. It may possibly help thousand of hundreds of unbiased blockchains of all subtypes.
It has full compatibility with Solidity and thus the Ethereum ecosystem. It’s a collusion-resistant leaderless community with mathematically provable safe ABBA-based consensus.
#5 ZKSwap (ZKS) – $20.4M Market Cap
The ZKSwap is a Layer 2 scaling resolution, particularly an automatic market maker (AMM) sort decentralized alternate (DEX) powered by zkRollup know-how. Developed by L2Lab, it has already launched on Ethereum mainne
It transfers all tokens to Layer 2 and ensures consistency by repeatedly producing zero-knowledge proofs. It permits exchanges to execute swaps with zero fuel charges and limitless scalability.
Why Prime 5 Ethereum Layer 2 Initiatives Will Doubtless Rise?
It’s a massively profitable market. Contemplating that the Ethereum block house is the costliest and the scaling demand is at all-time excessive. It implies that L2 tasks are going to have a discipline day forward with the rising integrations and maturity of infrastructure round them.
About Layer 2 Options
The Layer 2 scaling options are decentralized protocols that enhance the processing capability of a blockchain (therefore scaling) and consequently, relieve congestion on the community.
They work by delegating the community processing “off-chain” to their very own chain, processing it there, earlier than settling the ultimate balances on the bottom layer mainnet.