- This topic has 1 reply, 1 voice, and was last updated 2 months, 1 week ago by syxxnein.
- Tuesday, November 29th, 2022 at 14:14 #413549the_phallus_of_joyParticipant
Gas usage on ETH layer 2 networks reached an all-time monthly high. Year on year, the figure has increased by roughly 300%.
The ETH network is experiencing increased layer-2 activity, as the amount of gas spent on the network has reached an all-time monthly high. Over 103 billion gallons of gas were consumed in November 2002, a significant increase from 33.2 billion at the start of the year.
The amount of gas used to settle layer 2 transactions on ETH has roughly tripled year over year. With the exception of a few blips when the market crashed, this activity has been increasing in 2022.
I’ve been thinking like, this is a milestone for ETH, because only six months ago, the value was at half the current amount and November was the first time that layer 2 networks consumed well over 100 billion in gas.
For gas fees I always used Metis, it’s necessary to use L2 protocols. I didn’t even try anything else even though there are plenty of solutions such as Optimism, Arbitrum, dYdX, Starkware, and Loopring. How about you, what do you use?
Overall, layer 2 gas use is expected to increase by approximately 170% in 2022, which bodes well for the crypto market. Adoption of these solutions has risen dramatically in the last 18 months, with low gas fees and quick transactions attracting entities.
All of these launches have contributed to an increase in the use of L2 gas. Scalability remains a priority in the ETH ecosystem, with numerous projects announcing expansion and developments.Tuesday, November 29th, 2022 at 14:14 #413550syxxnein
Loopring wallet is my choice. Smooth and they keep adding good stuff. Building in a bear is always bullish!
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