zkSync and Arbitrum Making Strides: Surpassing Optimism and Polygon in Advancements

zkSync and Arbitrum Show Promise in the Competitive Layer 2 Space

As the Layer 2 scaling solutions for Ethereum continue to evolve, new entrants like zkSync and Starknet are vying for dominance in the crowded space. Recent developments have shown promising progress for zkSync and Arbitrum, with zkSync leading in Ethereum gas consumption and Arbitrum dominating in overall fee generation.

zkSync’s Rise to the Top in Ethereum Gas Consumption

zkSync has emerged as the frontrunner in Ethereum gas consumption, capturing a market share of 32%, surpassing both Arbitrum and Optimism, which hold 26% and 24% market share respectively. This achievement signifies the growing user adoption and success of zkSync in the Layer 2 space.

Arbitrum’s Dominance in Fee Generation

Arbitrum has shown strong leadership in overall fee generation among Layer 2 protocols, accounting for 41% of all L2 fees, according to data from token terminal. Meanwhile, Polygon and Optimism constituted 23% and 22% of the fees generated respectively. This suggests that Arbitrum has gained significant market traction in recent weeks.

Increasing User Activity on Layer 2 Networks

The number of daily active addresses on the Arbitrum network has been one of the reasons behind its high fee generation, with 249,900 daily active addresses reported. However, Polygon has surpassed Arbitrum in this aspect, with 318,800 daily active addresses, while Optimism and StarkNet lag far behind in terms of user activity.

Looking Ahead: Updates and Improvements in the Layer 2 Space

The current state of Layer 2 protocols is expected to change as significant updates are planned, which will convert the L2s into a settlement layer and enable the deployment of L3s. These updates are expected to bring improvements in compatibility, value capture, and developer experience, likely enhancing the performance of these networks and reshaping the competitive landscape of the Layer 2 space.

In conclusion, zkSync and Arbitrum have shown promising progress in the competitive Layer 2 space, with zkSync leading in Ethereum gas consumption and Arbitrum dominating in overall fee generation. The increasing user activity on these networks, along with upcoming updates and improvements, are expected to shape the future of Layer 2 scaling solutions for Ethereum.