Here are 5 emerging Layer-2 blockchain platforms to watch in 2024:
Arbitrum: Arbitrum is a popular Ethereum Layer-2 scaling solution that uses optimistic rollups to enable fast and low-cost transactions. It offers a developer-friendly environment with well-known tools and efficient deployment procedures. Arbitrum is moving towards a community-driven future while maintaining its decentralization goals.
Optimism: Optimism is another Ethereum Layer-2 scaling solution that utilizes optimistic rollups. It aims to provide fast and inexpensive transactions while inheriting Ethereum's security. Optimism has a strong focus on developer experience and has seen significant growth in its ecosystem.
Polygon: Formerly known as Matic Network, Polygon is a Layer-2 scaling solution for Ethereum. It provides an Ethereum-compatible blockchain that processes transactions separately and then returns them to the main Ethereum chain. This approach reduces the network load on Ethereum and allows users to interact with DApps without congestion issues.
Dymension: Dymension is a modular Layer-2 blockchain ecosystem built on the Cosmos network. It divides functions like execution, consensus, and data availability so that each RollApp can maximize security and speed. Dymension uses enshrined rollups to strengthen trust throughout the network and permanently embeds validity in the Dymension Hub. Its modular architecture allows scaling individual RollApps without affecting the network as a whole.
zkSync: zkSync is a Layer-2 scaling solution for Ethereum that utilizes zero-knowledge rollups (zk-rollups) to enable fast and low-cost transactions. It aims to provide a secure and scalable platform for DeFi applications and other decentralized use cases. zkSync has a strong focus on privacy and is working towards becoming a fully trustless and decentralized solution.
These Layer-2 platforms are poised to play a significant role in enhancing the scalability and usability of Ethereum and other blockchain networks in 2024 and beyond. By offloading transactions to Layer-2, they can significantly improve transaction throughput and reduce fees, making blockchain technology more accessible to a wider audience.