Total value locked in the second layers that operate on Ethereum exceeds USD $ 6,000 million – DiarioBitcoin

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Total value locked in the second layers that operate on Ethereum exceeds USD $ 6,000 million - DiarioBitcoin By Angel Di Matteo @shadowargel

These figures reflect an increase of 13.26% in the last seven days, putting on the table a greater interest in second layer solutions that operate in the ecosystem of Ethereum.

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A survey recently published by several news portals reveals that, together, the second layer solutions (Layer 2) that operate on the network of Ethereum accumulate a total of blocked funds that exceeds USD $ 6,160 million.

Second coat solutions on Ethereum capitalize USD $ 6.16 billion in blocked funds

As such, second layer solutions are based on the use of alternate networks or channels that help to streamline the flow of transactions, compiling these and bringing them back to the main network of Ethereum through operations packages. To do this, these networks manage a dynamic in which capital is blocked in order to guarantee its security.

As such, according to a report recently presented by the portal Bitcoinist, the set of second layer solutions currently active on the network of Ethereum capitalizes about USD $ 6,160 million in blocked funds (TVL – Total value locked), which represents an increase of 13.26% in the last seven days, translating into a significant increase in investment levels in each of the projects involved.

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Digging deeper into the data, the second layer protocol that capitalizes on the largest amount of locked capital is Arbitrium, which brings together 43% of the aforementioned total. They follow him DYdX with USD $ 975 million; Boba network with USD $ 863 million; and Loopring with about USD $ 580 million.

The popularity of second layer solutions

Even though plans are still in place for the arrival of Ethereum 2.0, in recent years second layer solutions on the network of Ethereum They have gained a lot of commercial boom, precisely because of scalability problems, congestion peaks and high costs of operations. This has generated a kind of race to design a comprehensive solution that is capable of addressing these problems.

Various teams have been working and making promising progress in this area, designing second-layer solutions that enjoy adoption between different protocols that make life on the network. Perhaps the most representative case is the sector DeFi that operates on Ethereum, where various projects incorporated second layer solutions precisely to avoid that the problems inherent to the network compromise the operability of their proposals.

Another quite remarkable aspect is that these solutions have gained a lot of popularity and visibility in more recent times, precisely because the development teams have made important updates and optimizations to improve their operation.

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The arrival of the Rollups

On the other hand, as second layer solutions advance, there are also teams that have changed the perspective a bit and are working on the development of solutions called Rollups, which are also parallel ways to process transactions, only that these work directly on Ethereum and not as separate networks, so they take advantage of all the power of hosted HASH to keep the data that circulates through them safe.

As such, the Rollups They can be of two types:

  • Optimistic Rollup: Kind of Rollup in which the aggregator puts funds as collateral and compiles a series of transactions that is subsequently sent to the main layer of Ethereum. Here, the smart contract that the operations group receives does not audit whether they are okay or not, but an external auditor can review these and determine if everything is going as expected..
  • ZK Rollup: Modality in which the aggregator groups transactions and sends them to the main layer, where before completing the process it audits the operations and verifies at the moment if they are correct.

Both Rollups and second layer solutions are expected to continue to optimize over time, so in the case of the latter it is possible that the amount of locked capital will continue to increase as more solutions operate on them.

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Source: Bitcoinist, Cryptodeadline

Version by Angel Di Matteo / DailyBitcoin

Picture of Unsplash

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