What is the appeal for Layer 2 projects.

[Playboy]

This is something I've been looking at for a while now, but it looks like the market for L2 networks is getting a lot of numbers, because that's the only explanation I can give for the amount of L2 projects looking to solve issues like high gas fees or slower transactions speeds on traditional blockchains like Ethereum.

Well, at least that's what the whitepaper for projects like Movement labs (MOVE) or even any other L2 project says when you read them.

I've also seen a lot of people talk about getting tokens either through the pre-market or when it lists. There must be something in it for these guys.

[rdluffy]

The principle of most L2s is to have lower and faster transaction fees
Some have other features more geared towards DeFi, or NFTs etc

But what I like to point out is that some L2s have a high TVL because of users farming airdrops, like the Base network, Linea, Optmism etc
There's a lot of movement because of this, lots of bridges happening trying to get airdrops from bridges too, like Jumper, LayerZero, DeBridge...

[bitterguy28]

This is something I've been looking at for a while now, but it looks like the market for L2 networks is getting a lot of numbers, because that's the only explanation I can give for the amount of L2 projects looking to solve issues like high gas fees or slower transactions speeds on traditional blockchains like Ethereum.

yeah that is basically the purpose of l2 blockchains they aim to solve the problems or issues in l1 but as we can see some of it is still not enough and we see l3 projects now being launched for additional benefits to the entire blockchain and giving users better experience with the network

I've also seen a lot of people talk about getting tokens either through the pre-market or when it lists. There must be something in it for these guys.

it is mostly just money, no?when people get interested in project even before it gets listed they are hoping that the project gets listed at a good price and they can sell the tokens they bought for a much cheaper price

[joniboini]

yeah that is basically the purpose of l2 blockchains they aim to solve the problems or issues in l1 but as we can see some of it is still not enough and we see l3 projects now being launched for additional benefits to the entire blockchain and giving users better experience with the network

Makes you wonder why people launch L2 in the first place. If their solution fails to address the scalability issue of the layer 1 network, can't they just change something instead of waiting for another layer to solve their issue? I don't think the risk of changing things on layer 2 is as high as the layer 1 network, judging that most computing power lies on layer 1 to begin with. I doubt whatever changes they need to make require aggressive action like rollback or something similar that affects users' wealth directly.

[BDose]

For me, the draw is their ability to address high gas fees and slow transaction speeds, especially on networks like Ethereum. Platforms like Arbitrum and Optimism show how scaling solutions can make decentralized finance (DeFi) and NFT trading way more accessible. For example, with Arbitrum, you can interact with DeFi platforms like Uniswap or SushiSwap without worrying about gas fees eating into your profits.

[densuj]

For me, the draw is their ability to address high gas fees and slow transaction speeds, especially on networks like Ethereum. Platforms like Arbitrum and Optimism show how scaling solutions can make decentralized finance (DeFi) and NFT trading way more accessible. For example, with Arbitrum, you can interact with DeFi platforms like Uniswap or SushiSwap without worrying about gas fees eating into your profits.

Don't forget about base network as layer2 eth sir, it has big communities from users, developer, it has huge tvl (total value locked) in their network be backed by coinbase exchange and i think it will be more huge in coming future than now and i have used base since it was mainnet everything was smooth, fast, low gass fee.