2023-8-18 00:00 |
Shytoshi Kusama, co-founder of the Shiba Inu ecosystem, blamed a massive influx of transactions and user activity for technical difficulties on Shibarium.
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Ethereum, the world’s second-largest blockchain network, persistently grappling with scalability issues due to its popularity and increased network congestion, has had the concept of Layer 2 chains in mind since 2014.
The emergence of various blockchain scaling solutions has sparked discussions about the differences and roles of Layer 1, Layer 2, Layer 3, parachains, and sidechains in the evolving crypto ecosystem.
Worldcoin Foundation announced on April 16 that it will launch a proprietary Layer-2 network on Ethereum called World Chain — describing it as a “new blockchain designed for humans. ” World Chain is scheduled to launch later this year in the summer.
VanEck believes that Ethereum‘s Layer-2 protocols will hit a collective $1 trillion market capitalization by 2030, according to a new research report published on April 3. The prediction was revealed in a detailed analysis led by VanEck senior investment analyst Patrick Bush and head of digital research Matthew Sigel.
Paradigm, one of Blast’s seed investors, criticized the protocol’s decision to launch a bridge before its L-2 and withdraw capability.
Charles Hoskinson, Cardano (ADA) founder, said he is “game” to help Kraken crypto exchange build its layer-2 network, according to a Nov. 12 post on social media platform X. Layer-2 networks are scaling solutions that provide scalability and speed to a layer-1 blockchain.
Base publicly launched its mainnet just over two months ago, and the launch was phenomenal. Despite the bear market, it demonstrated exponential growth in just over two weeks. Now that the hype around Base has cooled down, it is time to examine the state of the network.