Study Shows Fastest Growing L2 Blockchains Adopt Users in Weeks, Not Months

The newest furniture 2 (L2) blockchains are being adopted astatine grounds speeds, with immoderate reaching 1 cardinal users wrong weeks alternatively than months, according to a survey by Coingecko.

L2 Blockchains Hit One Million Users Faster Than Ever, Coingecko Study Shows

A furniture 2 (L2) blockchain runs alongside an existing blockchain similar Ethereum to amended transaction speeds and trim fees. The Ethereum web present has respective fashionable L2 solutions, but they haven’t ever seen accelerated adoption. Coingecko precocious published a report connected the taxable which highlights the maturation of today’s apical L2s.

Arbitrum, an ETH-based L2, took 303 days to scope 1 cardinal unsocial addresses aft its mainnet motorboat connected August 31, 2021, according to Coingecko’s contributor Shaun Paul Lee. The L2 solution Optimism, launched successful January 2022, deed the aforesaid milestone successful 191 days.

Zksync, which launched its mainnet connected March 25, 2023, needed 71 days to scope 1 cardinal addresses. But Base, which launched its mainnet connected August 9, 2023, gained implicit a cardinal addresses successful conscionable 11 days.

The survey notes that Base benefited from a question of popularity astir caller meme coins launching connected the caller network. Base is an Ethereum L2 blockchain web developed by the San Francisco-based crypto steadfast Coinbase.

Lee’s probe further shows L2s without autochthonal tokens onboard users adjacent faster. Both Base and Zksync reached a cardinal users rapidly without having launched tokens yet. The survey suggests users are hoping for airdrops of governance tokens arsenic rewards for aboriginal adoption.

Meanwhile, L2s similar Arbitrum and Optimism person already distributed tokens done airdrops. Polygon zk-EVM, which has the MATIC token, has seen slower maturation compared to Base and Zksync.

Despite accelerated maturation from L2s, Lee’s probe notes that Ethereum inactive dominates with implicit 241 cardinal unsocial addresses arsenic of August 20, 2023. However, the researcher opines that caller solutions similar Base are rapidly gaining spot and providing meaningful scaling benefits to Ethereum.

What bash you deliberation astir Coingecko’s study connected L2 networks and their growth? Share your thoughts and opinions astir this taxable successful the comments conception below.