The fastest-growing Ethereum Layer 2 public chain in the future, how much can it increase during the bull market?

CN
1 year ago

If the bull market comes in 2025, the Layer2 sector is one of the tracks I am most optimistic about, and the already issued op and arb are currently the most important leading projects in the second-layer network.

Ethereum was born in 2015. It was created by Vitalik Buterin and a group of developers, and it exploded in popularity in 2017 with smart contracts. To this day, the development of the entire ecosystem is one of the most important infrastructures in the blockchain field, and the consensus of the Ethereum ecosystem is also one of the strongest communities.

So far, the development of the Ethereum ecosystem has been 8 years. The biggest pain point of the entire Ethereum network is poor scalability and expensive transaction fees, which cannot support the development of large-scale dapp applications.

According to the current scale of ecosystem development, if Ethereum does not upgrade and expand the second-layer network now, the future will face the loss of ecosystem users, and the currency price will not be able to maintain a spiral upward economic model, which is a result that the entire community does not want to see.

Many people have no concept of Layer2 and the second-layer network. Ethereum is an infrastructure framework system. Several consensus networks can be superimposed on it…

  1. The first layer: Ethereum blockchain network layer. This layer is the underlying infrastructure of Ethereum, which uses a data structure called the Ethereum blockchain to store the state of transactions and contracts. The Ethereum blockchain network is composed of full nodes, which collectively maintain the entire state of the blockchain.

  2. The second layer: Consensus algorithm layer. In Ethereum, the current consensus algorithm used is Proof of Work (PoW), which creates new blocks by solving cryptographic puzzles of a certain difficulty. The main function of this layer is to ensure the consistency and credibility of transactions and contract states in the network.

  3. The third layer: Distributed Application (DApp) layer. This layer is the application layer built on top of the Ethereum blockchain, which uses Ethereum's smart contract functionality to implement various decentralized applications. The DApp layer is the top layer of Ethereum, and it runs smart contracts through the Ethereum Virtual Machine (EVM) and interacts with the blockchain network.

OP-Optimism

Optimism is a low-cost, lightning-fast Ethereum Layer 2 blockchain.

The Optimism ecosystem is an overview of applications and integrations in the Optimism ecosystem.

Optimism addresses the actual needs of developers and users. The Optimism Foundation is a non-profit organization dedicated to the development of the Optimism Collective.

OP is its native governance token, mainly used for protocol governance.

Reasons for optimism: Currently ranked 7th in TVL in the L2 sector, second only to ARB, the ecosystem is developing rapidly. Coinbase's Layer 2 network also chose OP, and it also benefits from the Cancun upgrade. The future development prospects are very good.

The current proportion of TVL in the entire public chain ecosystem

Others: 8.26%

Cronos: 0.8%

Solana: 0.87%

Base: 0.89%

Avalanche: 1.36%

Polygon: 1.92%

Optimism: 1.66%

Arbitrum: 4.69%

Binance Smart Chain (BSC): 7.37%

Ethereum: 53.48%

Tron: 18.7%

Track: Public Chain L2 Rating: A Grade

Total token supply: 4.295 billion

Track: Public Chain L2 Rating: A Grade. Currently, the circulating market value of OP is around 10 billion, with a total market value of 50 billion, and the estimated value is around 900 billion to 1.2 trillion.

Summary: The current Ethereum ecosystem is similar to the business model and ecosystem development of Apple's iOS and Google's Android system. In the era of artificial intelligence, the growth space of the second-layer network is the most important infrastructure as web3 application scenarios expand. OP's current market value is comparable to the highest market value of Sol in the last bull market, with a growth potential of 20 times, making it one of the most noteworthy leading projects in Layer2.

In the crypto industry, if you want to seize the next bull market opportunity, you need to have a high-quality circle, so everyone can huddle together and maintain insight. If you are alone and at a loss, it is actually very difficult to persist in this industry. If you want to huddle together or have doubts, you are welcome to join us - Gong Zonghao: Guanguan Shuibi.

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