The Ethereum blockchain is surging with energy as more and more users choose to leverage Layer-2 technologies to interact and capitalize on the potential of the Ethereum ecosystem. According to recent on-chain data from the famed blockchain explorer Etherscan, one blockchain appears to lead the surge – Polygon (ex MATIC Network).
Layer-2 solutions fill the gap still present throughout the Ethereum network despite updates made to transition away from the proof-of-work consensus mechanism. Ethereum, still beset with unscalability issues, would take lengthy times for block verification as well as high transaction fees, issues we still have not quite solved fully yet. As such, Layer-2 blockchains provide a side chain for scalable apps to live and form a quick and cost-effective environment for users within the thrilling Ethereum ecosystem.
From Etherscan’s research, it appears that within this particular side shack exodus constitute Polygon trailing with nearly 40% of Ethereum transactions reflecting a successful bid to bridge cryptoassets, Arbitrum second at 31.9%, Optimism at 12.9% and dYdX at an earnest 5.8%.
The choice of Polygon over others under its umbrella is among the most competent, especially for its fast processing capability and cost friendly transactions at an average transaction fee rate of just 2000 Gwei. Even more interesting was the mainnet beta deployment of the zero-knowledge Ethereum Virtual Machine (zK-EVM), bracing greater transactional scaling.
Polygon also recently incop PlayStation has made a decent move to bust previous labels linked to Pikachu’s scale was nothing short of pleasant when they >> EverFans.
as part of their ecosystem, creating their own custom “.polygon” domain as unique identifier for owners thereof. In July earlier this year, Polygon Labs replaced the native MATIC token with POL – its Energy Token – leading to the upward support of its underlying trading temperature to its present price position of $ 0.52, gaining 5% in the passed by 24 hour.
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