Base and Arbitrum account for half of the TVL, lively addresses, DEX quantity, and transactions on Layer 2s, whereas roughly 10 networks account for greater than 90%.
Regardless of considerations relating to the fragmentation of liquidity throughout Ethereum’s increasing Layer 2 ecosystem, two chains have been rising their dominance over L2 property and exercise.
Knowledge from L2beat exhibits Arbitrum accounting for 39.6% of the whole worth locked (TVL) on Layer 2s with $16.9 billion, adopted by Base with 17% or $7.22 billion — equating to a mixed dominance of 56.6%. OP Mainnet ranks third with a good 14.9% dominance or $6.32 billion TVL.
Based on GrowThePie, Arbitrum and Base additionally make up 59% of transaction quantity throughout 23 Layer 2 networks. Base leads the pack with 3.16 million transactions in 24 hours or a 36.8% dominance, adopted by Arbitrum with 1.99 million transactions or a 22.2% market share. Blast is third with 605,000 transactions or 8% of the whole.
Arbitrum, Base, and Linea are primarily tied by the variety of lively addresses, with the networks internet hosting 24%, 24.25%, and 24.8% of the two.45 million day by day Layer 2 customers.
Based on GeckoTerminal, Arbitrum and Base additionally account for 48.4% of the mixed quantity throughout the highest 25 Layer 2 networks by decentralized trade exercise
The info repeatedly exhibits that based mostly on key metrics, Arbitrum and Base make up roughly half of the Layer 2 ecosystem, with numerous networks coming in third place.
The info challenges the notion that Ethereum’s Layer 2s are establishing a fractured ecosystem of siloed chains, with the majority of exercise happening on two networks.
Additional, the highest 9 Layer 2s make up greater than 90% of the L2 sector’s TVL, transaction depend, lively addresses, and DEX trade quantity. The info exhibits {that a} handful of networks host the lion’s share of property, customers, and transactions, regardless of an ever-expanding periphery competing for the crumbs.
Overcoming bridges
Regardless of the consolidation of Ethereum’s main L2s, there are plain challenges related to its Layer 2 ecosystem.
ZKsync, a prime Ethereum scaling staff, just lately highlighted the capital inefficiency of cross-chain bridges as a big downside of the Layer 2 ecosystem.
“Because the variety of unbiased blockchains in addition to optimistic rollups grows, the capital that must be obtainable in these bridges should develop quadratically,” ZKsync mentioned. “Ethereum-aligned rollups have achieved spectacular cumulative throughput capability, [but] this progress got here with an enormous deterioration in consumer expertise, capital effectivity, and community integrity.”
ZKsync is amongst a rising cohort of scalability groups looking for to ascertain ecosystems of interconnected Layer 2 chains, overcoming the inefficiency of bridging within the course of.
ZKsync laid the groundwork for “Elastic Chain” scaling with its 3.0 improve final month, following Optimism’s Bedrock improve in June 2023, and Polygon’s AggLayer in January. Every undertaking seeks to foster a multi-chain ecosystem of symbiotic networks leveraging the identical tech stack within the type of the ZK Stack, OP Stack, and Polygon CDK, respectively.
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