**Exploring the Lockup Volume on Ethereum Layer2: An Overview**

03/25/2023 20:03 • Blockchain Briefs • 87 views

According to reports, L2BEAT data shows that up to now, the total lockup volume on Ethereum Layer2 is $9.1 billion, up 35.39% in the past 7 days. Among them, the largest lockup volume is the expansion plan Arbitrum One, which is approximately $6.118 billion, accounting for 67.23%, followed by Optimism, which has a lockup volume of $1.984 billion, accounting for 21.80%.

Total lockup on Ethereum Layer2 is $9.1 billion

As the digital economy continues to evolve, there has been a significant rise in the use of blockchain technology. This technology provides a platform for the creation of decentralized applications that are highly secure and transparent. One of the notable applications of blockchain technology is the Ethereum Layer2 protocol. According to reports, L2BEAT data shows that up to now, the total lockup volume on Ethereum Layer2 is $9.1 billion, up 35.39% in the past 7 days. This article explores the lockup volume on Ethereum Layer2 and gives an overview of the two largest lockup volumes in the network.

Overview of Ethereum Layer2

Ethereum Layer2 is a second-layer protocol built on top of the Ethereum blockchain. It aims to solve problems related to scalability, high gas fees, and slow transaction confirmation time on the Ethereum network. The protocol connects to the Ethereum main net and provides a highly efficient and cost-effective platform for conducting decentralized transactions. The platform has gained significant traction over recent years, with many developers building decentralized applications on the protocol.

Lockup Volume on Ethereum Layer2

The lockup volume on Ethereum Layer2 refers to the value of assets that are held in smart contracts on the network. The total lockup volume on Ethereum Layer2 is $9.1 billion, up 35.39% in the past 7 days. This is a significant rise in the adoption of Layer2 solutions, providing a more efficient platform for transacting digital assets.

Arbitrum One

The largest lockup volume on Ethereum Layer2 is the expansion plan Arbitrum One, with approximately $6.118 billion, accounting for 67.23% of the total lockup volume. Arbitrum One is built on Ethereum main net and aims to provide a highly efficient and scalable platform for decentralized applications. The platform leverages an Optimistic Rollup mechanism, which allows for efficient transaction processing without high gas fees. With over $6 billion in lockup volume, Arbitrum One is one of the most popular Layer2 solutions on the Ethereum network.

Optimism

The second-largest lockup volume on Ethereum Layer2 is Optimism, with a lockup volume of $1.984 billion, accounting for 21.80% of the total lockup volume. Optimism is built as a side chain to the Ethereum main net and aims to provide a highly scalable and efficient platform for decentralized applications. The platform uses a rollup mechanism that enables efficient transaction processing and confirms them on the main net. With close to $2 billion in lockup volume, Optimism is another popular Layer2 solution that continues to gain significant traction in the decentralized ecosystem.

Conclusion

Ethereum Layer2 has significantly impacted the decentralized ecosystem by providing scalable and efficient solutions to traditional blockchain problems. The total lockup volume on Ethereum Layer2 continues to grow, indicating high levels of adoption of Layer2 solutions. Arbitrum One and Optimism are two of the most popular Layer2 solutions on Ethereum, with billions of dollars in lockup volume. This trend highlights the need for efficient and cost-effective solutions to foster the growth of decentralized applications.

FAQs

1. What is Ethereum Layer2?
Ethereum Layer2 is a second-layer protocol built on top of the Ethereum blockchain. It aims to solve problems related to scalability, high gas fees, and slow transaction confirmation time on the Ethereum network.
2. What is the lockup volume on Ethereum Layer2?
The lockup volume on Ethereum Layer2 refers to the value of assets that are held in smart contracts on the network.
3. What are the two largest lockup volumes on Ethereum Layer2?
The two largest lockup volumes on Ethereum Layer2 are Arbitrum One and Optimism, with lockup volumes of $6.118 billion and $1.984 billion, respectively.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/03/25/exploring-the-lockup-volume-on-ethereum-layer2-an-overview/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.