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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    Base claims top 3 spot in 30-day NFT volume: DappRadar

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    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

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    Blue chip NFTs sink double digits as ETH retreats from record highs

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    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

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    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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  • NFT
    Base claims top 3 spot in 30-day NFT volume: DappRadar

    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

    Blue chip NFTs sink double digits as ETH retreats from record highs

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    What’s Behind the Double-Digit Declines?

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    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

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    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

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    Climb the SCOR Invitational Leaderboard and Earn Bigger $SCOR Airdrops

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    Pudgy Penguins Game ‘Pudgy Party’ Launches on iOS and Android

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    The Rise of Indian Online Casinos: Affiliates, Crypto, and Seamless Gaming?

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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    ETH Daddy Discusses Ethereum and AI

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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    What Is Volatility in Crypto? Why It Happens and How to Stay Safe

    What is Cloud Mining? A Beginner’s Guide

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    6 Under-$1 Utility Tokens with Real-World Use to Watch in the 2025 Bull Run

    6 Under-$1 Utility Tokens with Real-World Use to Watch in the 2025 Bull Run

    What is Crypto FOMO? How to Avoid Emotional Investing Mistakes

    What is Crypto FOMO? How to Avoid Emotional Investing Mistakes

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Blockchain

Layer-2 Addresses Surge: Key Factors and Leaders

July 3, 2024
in Blockchain
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Layer-2 Addresses Surge: Key Factors and Leaders
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Layer-2 (L2) blockchains have registered a significant increase in unique addresses in the first half of 2024.

READ ALSO

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Key network adjustments, including transaction fee reduction, and changes to protocol governance are some of the key reasons behind the growing interest.

Optimism Shines in L2 Address Growth

Data analytics platform Coin98 Analytics highlights significant growth in the number of unique addresses among L2 blockchains. BNBChain, Polygon, and Ethereum blockchains continue to lead the pack with the most number of addresses, data shows.

Ethereum Layer-2 network Optimism stands out, recording the most new addresses, with over 58.4 million since January. This marks a 64% increase in the last six months. The seven-day net flow across the blockchain was over $56 million as of June 29.

Read More: What is Optimsim? All You Need to Know

L2 Total Unique Addresses, Source: Coin98 Analytics

The report coincides with the Optimism Governance Season 6 launch, announced by the network’s governing body, Optimism Collective. With this initiative, the Optimism community, developers included, will jointly enact improvements for the network based on the “Optimizing to Support the Superchain” theme.

Core tenets of Season 6 include decentralization goals, growing the Superchain with more networks, and fostering application developers on the Superchain. The platform’s commitment to enhancing user experience and promoting community engagement has been instrumental in attracting more network participants.

Other notable mentions on metrics of the number of unique addresses include Mantle, Scroll, and Linea, which recorded over 380%, 235%, and 212% increases, respectively.

See also  African crypto revolution continues as Ethiopia ranks among global BTC mining leaders

BNB, Ethereum, Polygon Lead the Pack

While the governance adjustment did it for the Optimism blockchain, changes to network fees boded well for other ecosystems, including BNB Smart Chain. The BNB blockchain is leading the pack with a prolific 458.7 million new unique addresses as of June 30. This growth is achieved through the opBNB L2 solution, which enhances the network’s performance and scalability.

BNB adjusted its network fees through the successful BEP 336 Haber Hardfork activation, delivering a 90% transaction fee reduction. The upgrade introduced blob-carrying transactions, optimizing the network’s data storage and processing capabilities.

With significantly reduced data availability costs for L2 solutions on BNB Smart Chain, transactions become more affordable and accessible. It enhances the ecosystem’s overall efficiency, positioning BNB Chain among the most economical platforms for users and developers.

Read more: A Beginner’s Guide to Layer-2 Scaling Solutions

Like BNB Smart Chain, Ethereum’s reduced fees also come courtesy of blobs after implementing Upgrade EIP-4844 (Proto-Danksharding). The blobs transaction model frees up space within the mainnet while decreasing the fees on L2 networks.

Polygon’s position in the pack’s frontline comes as the network provides a multi-chain scaling solution. Its framework offers a haven where decentralized applications (DApps) and smart contracts can flourish, free from Ethereum’s typical constraints.

As key adjustments promote growing interest in Layer-2 blockchains, they reflect the impact of improved overall user experience, incereased sustainability, and network scalability in driving adoption. The surge in unique addresses also mirrors the increasing acceptance and recognition of L2 solutions as viable alternatives to “traditional” blockchain platforms.

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Tags: addressesfactorskeyLayer2LeadersSurge

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