Top Rising Layer 2 Blockchains

Exploring the Rise of Top Layer 2 Blockchains

As the competition among layer 2 blockchains intensifies, a fascinating trend emerges – the swift rise of various applications within this ecosystem. 

But amid the growing landscape, the question arises: which layer 2 network has experienced the fastest growth? Could it be Arbitrum, Optimism, Base, or another contender? 

According to a recent research report from CoinGecko, Base stands out as the frontrunner, achieving remarkable growth by gaining 1 million unique addresses just 11 days after its official mainnet launch. Even before its official mainnet launch, the network had already attracted 532k addresses, courtesy of users bridging to the chain through unofficial bridges. 

Furthermore, on Aug. 21, Base averaged a record high of 15.88 transactions per second (TPS) over the 24 hours, beating Ethereum, Arbitrum, and Optimism, according to l2beat. 

But questions linger about the sustainability of this momentum as DappRadar blockchain analyst Sara Gherghelas ponders the potential lifespan of the Friend.tech buzz.

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Comparing Adoption Speeds

Comparing adoption speeds reveals intriguing insights. Arbitrum and Optimism took 303 and 191 days to hit the 1 million unique address mark, respectively. In striking contrast, zkSync achieved this milestone in a mere 71 days. This timeline was further condensed with the launch of Base Network, which accomplished the feat in just 11 days, fueled by a wave of meme coins and unique dynamics.

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Tokenless Layer 2 Adoption

Notably, layer 2 networks without native tokens are experiencing rapid adoption. For instance, zkSync, despite lacking a token, has attracted users betting on a potential zkSync airdrop, driving significant activity. Similarly, Base Network's absence of a native token has not hindered its uptake, indicating a demand for layer 2 functionalities independent of token incentives.

Although Arbitrum leads the pack overall, boasting 11.4 million unique addresses, Optimism is second with 8.0 million. In comparison, zkSync and Base Network are behind with 1.8 million and 1.0 million unique addresses, respectively.

Nonetheless, Ethereum still reigns supreme regarding user numbers, boasting over 241 million unique addresses as of August 20, 2023. While layer 2 networks flourish, Ethereum's dominance remains unchallenged in sheer scale.