• Arbitrum's DAO empowers ARB holders to influence protocol governance and decisions.

  • Optimism hosts numerous protocols, enabling efficient transactions and extensive scalability.

  • Immutable allows users to mint and trade NFTs without gas fees, revolutionizing the NFT experience.

Layer two solutions are hot on the Ethereum landscape to drive up speed and drive down transaction costs. Ambitious players like Arbitrum, Optimism, Mantle Network, Immutable, and StarkNet are all aggressively innovating in the space.

Arbitrum(ARB) Boosts Power to the Ecosystem

Current price:$0.5429

Market cap:$1.9B

Arbitrum is a layer-two scaling solution for Ethereum that utilizes optimistic rollup technology to scale Ethereum's efficiencies. It does so by taking most of the computations off-chain, increasing the transaction speed significantly and also reducing fees drastically. The recently announced Arbitrum DAO-which gives ARB token holders voting rights on new updates concerning protocol features, upgrades, and funding-seeks to change that.

Ambitious roadmaps are set for Arbitrum in 2023. The release of its layer-three solution, Orbit, will allow developers to build using popular programming languages like Rust and C++. Besides this, it is going to scale up its validator set with more independent institutional validators and work on further fortifying its security framework.

Optimism(OP): Scaling Ethereum

Current price:$1.64

Market cap:$2.O55B

Optimism leverages the security of Ethereum and deploys optimistic rollups to prevent congestion in transactions. In total, it has 97 protocols running on the chain, with more than $500 million in total value locked. Some well-known projects using the chain include Synthetix and Uniswap. Accessing Optimism is quite straightforward: users add it in their Metamask wallet and bridge their assets across to the layer-two network.

Base(BASE) Launch and Its Impact

Current price:$0.051825

Market cap:$1.6B

SwapBased is implementing an automated liquidity protocol on the Base blockchain. This protocol, consisting of non-upgradeable smart contracts, aims to enhance liquidity within the ecosystem. By focusing on stability and efficiency, Base positions itself as a vital player in the evolving layer-two landscape.

Mantle(MNT) Network’s Innovative Approach

Current price:$0.6024

Market cap:$1.9B

Mantle Network presents a modular technology stack for scaling Ethereum. This solution focuses on compatibility with the Ethereum Virtual Machine. Its architecture separates transaction execution and finality into distinct modules, enabling individual upgrades and fostering the adoption of new innovations.

Immutable(IMX) Focus on NFTs

Current price:$1.42

Market cap:$2.2B

Immutable targets the NFT sector with its layer-two scaling solution, addressing Ethereum's limitations. It offers instant trading and massive scalability without imposing gas fees for minting and trading. As a result, developers can create and distribute ERC-20 and ERC-721 tokens on a large scale, enhancing the user experience.

StarkNet Scalability Through Validity-Rollup

Current price:$0.3884

Market cap:$753.4M

StarkNet, a decentralized validity rollup, allows decentralized applications (dApps) to achieve extensive computational scalability. Using the STARK cryptographic proof system, it ensures Ethereum's composability and security. StarkNet contracts, written in Cairo, support various business logic deployments, catering to diverse use cases.

The post Best Ethereum Layer 2 Crypto Solutions: Unlocking Scalability and Efficiency appeared first on Crypto News Land.