Ethereum alternatives and layer-1 solutions see steady gains in September
Multi-million dollar incentive programs and the ease of cross-chain transfers are boosting the value of L1 and L2-based tokens and raising the total value locked in their associated DeFi platforms. The competition among layer-one (L1) smart contract platforms has been on the rise in the past couple of months as traders and developers continue to embrace Ethereum (ETH) network alternatives that offer faster transaction times and lower fees.According to a recent report from Delphi Digital, the price of Ether has remained relatively flat over the past month while competitors like as Solana....
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Ethereum is the dominant force in DeFi, and layer-two solutions are a promising alternative, but the layer-one blockchains are not done just yet. Issues with Ethereum congestion and high fees have led to many companies adopting layer-one solutions like Optimistic Rollups, OMG Network and many others. These platforms allow transactions to be created outside of the Ethereum network on what are known as “sidechains,” which then can be reconciled on the main Ethereum network in one simple transaction.These layer-two options are gaining a lot of traction in anticipation of the release of....
Since hitting a bottom below $3 on July 20, OMG price has hiked 380% and now targets a new multi-year high. In September the frenzy that propelled the nonfungible token (NFT) sector quieted down but a burst of fresh energy emerged as the layer-two sector heated after the successful launch of Ethereum (ETH) scaling solutions like Arbitrum and Optimism. Another project that has benefited from the sector's transition to layer-1 and layer-2 alternatives is OMG Network (OMG), a non-custodial layer-two protocol that utilizes an optimistic rollup scaling solution to improve Ethereum scalability.....
Many cryptocurrencies have seen their bull market gains wiped out since the start of 2022 and Ethereum has not been left out. However, investors in the digital asset have fared better than most given how many of them still remain in profit. Data shows that the gainers in Ethereum are still holding steady as half […]
After sinking roughly 30% from 2023 highs, Ethereum appears to be bouncing off from the pits of the crypto winter. Looking at candlestick arrangements in the daily and weekly charts, the coin has primary support at around $1,500 and is firm, bouncing off with decent trading volume. At spot rates, ETH is up approximately 3% following positive developments sparked by the increasing adoption of its layer-2 scaling solution and the recent news that VanEck, a player managing billions of assets, is preparing to launch an Ethereum derivatives product. Ethereum Layer-2 Solutions Exploding Taking....
With Ethereum transaction fees still high, more layer-two powered platforms are emerging. The number of decentralized exchanges running layer-two solutions is growing as the Ethereum network struggles to keep up with its own popularity.As excessive Ethereum gas prices continue to hamper smaller transactions and operations on the network, the number of faster and cheaper options continues to expand as layer-two adoption increases. Layer-two solutions have the potential to process thousands of transactions per second, rather than the handful processed on layer-one.The LeverJ decentralized....