The report focuses on the growth and development of Layer 2 (L2) blockchains, which are scaling solutions that increase transaction throughput and speed of a blockchain (L1). L2s have been gaining popularity due to their ability to offer higher transaction speeds and lower gas fees, making them an attractive alternative to congested L1s like Ethereum. The report highlights the growth of Arbitrum and Starknet, with both seeing a significant rise in fees and active users. The report also mentions the launch of the ARB token on Arbitrum, which has nearly doubled the number of monthly active users on the platform.
- Monitor L2 Developments: Layer 2 solutions like Arbitrum and Starknet are seeing significant growth in fees and active users. Monitoring these platforms can provide insights into the evolving landscape of blockchain scalability solutions.
- Assess Token Launch Impact: The launch of the ARB token on Arbitrum has led to a near doubling of monthly active users on the platform. Evaluating the impact of such token launches can help in understanding user behavior and platform growth.
- Stay Informed on Gas Fees: L2s offer lower gas fees and higher transaction speeds, making them an attractive alternative to congested L1s like Ethereum. Keeping track of gas fees across different platforms can provide a comparative understanding of their usability and efficiency.