What Are The Best Ethereum Layer 2 Solutions?

As the second most popular blockchain network, Ethereum hosts thousands of Dapps. But, as the network grows, it has been facing challenges, with scalability and high gas charges topping the list. As there are thousands of Dapps using ETH, there lies a demand for more computing resources. The need for more resources led to the birth of Layer-2 solutions, which are basically networks that reduce transaction traffic from the main chain by providing alternative computation chains. This guide looks into the five best Ethereum layer 2 solutions. So, without any further ado, let’s dive in. 1. Polygon Launched in 2017 as the Matic network, Polygon can expand Ethereum’s TPS to just about 7000 TPS. CNBC recently reported that Polygon has managed over a billion transactions, with over 2.7 million monthly active users since launch. Due to the high TPS, Polygon has lower gas charges than ETH. Polygon has formed partnerships with many projects like Graphlink, Umbrella network, Kambria Open Innovation, and Mogul Productions to offer optimal services. Top projects like Sushiswap, Chain Games, Quickswap, and Aavegotchi leverage this layer-2 solution. The network’s native token Matic is an excellent long-term investment option. In 2019, it was trading around $0.0035 and surged to $2.7 in 2021. Currently, the coin is trading at $0.5, but analysts predict that it could hit $10 by 2025. While ETH 2.0 is just around the corner, Polygon’s roadmap sh...