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Ethereum 
$2,622 layer-2 protocols are significantly increasing transaction volumes, with Coinbase‘s BASE platform leading the charge. According to Growthepie.xyz data, the total transaction volume of layer-2 protocols has soared to a record high of 29.64 million gas units per second. BASE accounts for 67% of this total volume, solidifying its leadership position.
Data Insights
Layer-2 protocols are scalability solutions built on top of foundational blockchains. These protocols aim to facilitate higher transaction volumes on main blockchains like Ethereum, with lower costs. The metric of millions of gas units per second reflects the number of transactions processed by the network every second.
Cost Impact of Layer-2 Solutions
Layer-2 protocols reduce transaction costs while managing a greater number of transactions. Users pay gas fees to execute transactions, and these fees can be kept lower due to the efficiency of layer-2 solutions.
However, the increasing transaction volume also raises concerns that the persistent demand for layer-2 solutions may quickly surpass current capacity. Users and developers remain cautious regarding the sustainability of these protocols.
The success of Ethereum layer-2 protocols represents a critical step for broader adoption of blockchain technology. These solutions not only alleviate network congestion but also enhance user experience.
Coinbase’s leading position with its BASE platform may play a crucial role in the future development of layer-2 technologies. Other blockchain projects continue to compete in this space with similar strategies.
Growing user demands and technological advancements may necessitate further optimization of layer-2 solutions. Balancing security and speed remains a significant challenge in this process.
