Research Summary
The report provides an in-depth analysis of various blockchain ecosystems, including Polygon zkEVM, Scroll, Base, zkSync Era, and Starknet. It highlights their growth in terms of active wallets, transactions, and total value locked (TVL). The report also discusses the unique features of these ecosystems, such as their fast native bridges, low transaction costs, and developer activity.
Key Takeaways
Polygon zkEVM’s Growth and Speed
- Increased Activity: Polygon zkEVM, built on Chain Development Kit (CDK), has seen a significant increase in active wallets and transactions, with a 105% and 83% rise respectively over the past seven days. Its TVL has also grown by 14%.
- Fast Native Bridge: Polygon zkEVM has facilitated a large number of withdrawals within 24 hours, making it one of the fastest native bridges.
Scroll’s Rapid Expansion
- Surge in Value: Scroll, a community-first, native zkEVM built upon Ethereum, has seen its Bridged Total Value Locked surpass $36M since its mainnet launch in October 2023.
- Decreased Gas Prices: Since its genesis block, average daily gas prices on Scroll have dropped by 84%, making transactions more cost-effective.
Base’s Developer Activity
- Sequencer Revenue: Base, an Ethereum Layer 2 network developed by Coinbase, likely generated $7m for Coinbase in Q3 through sequencer revenue.
- Contract Deployments: Despite declining sequencer revenue, the number of contracts deployed on Base has outpaced all other major L2s since its launch in June 2023.
zkSync Era’s Transaction Volume
- Paymaster Transactions: zkSync Era, a Layer 2 zkEVM created by Matter Labs, is averaging around 1k paymaster transactions per day across various dApps.
- Daily Transactions: zkSync Era and Arbitrum are leading in daily transactions, both averaging 500-800k daily transactions for the last few weeks.
Starknet’s Developer Adoption
- Developer Adoption: Starknet boasts the largest and fastest adoption by developers among all new ecosystems, ranking 7th across all crypto ecosystems.
- DeFi Growth: Starknet DeFi is picking up with AVNU, a DEX aggregator, doing $500M volume after 5 months.
Actionable Insights
- Investigate the Potential of Polygon zkEVM: With its significant growth in active wallets and transactions, and its fast native bridge, Polygon zkEVM presents a promising ecosystem for blockchain development.
- Explore Scroll’s Cost-Effective Transactions: Scroll’s decrease in average daily gas prices could offer cost-effective transactions for users and developers.
- Consider Base’s Developer Activity: Despite declining sequencer revenue, Base’s high number of contract deployments indicates a strong ecosystem for developer activity.
- Examine zkSync Era’s Transaction Volume: zkSync Era’s high volume of daily transactions and paymaster transactions suggests a robust and active ecosystem.
- Assess Starknet’s Developer Adoption: Starknet’s rapid adoption by developers and growth in DeFi could present opportunities for blockchain development and investment.
