Layer-two solution boosts Ethereum network

Ethereum is seeing a massive uptick in the number of decentralized exchanges that are now supporting layer-two solutions, the ecosystem's new mechanism that allows for better scalability and lower network congestion.

With gas prices continuously pestering the platform in the past, layer-two solutions have come to assist and facilitate transactions.

The adoption has been rapid with more and more stakeholders choosing to go layer-two for the sake of easing the burden amid soaring demand for Ethereum products.

Trading volume has also surged with LeverJ, a DEX or decentralized exchange, reporting a high uptick in trading volume, after launching perpetual contracts just four weeks ago. Some $75m has been traded, totaling 26,600 transactions for a total of $600 in gas fees.

Thanks to layer-two liquidity mining incentives, DEXes such as Loopring have been gaining momentum benefiting from a revitalized surge in the Ethereum ecosystem and a solution that directly sorts out the congestion issue.

With this said, the number of layer-two based solutions is proliferating, both in terms of DEXes and networks, and Ethereum is looking to continue scaling. This is good news for people who enjoy crypto gaming as well.

Casinos such as FortuneJack, BitStarz, and Bitcasino are once again able to transact ETH deposits and withdrawals without asking for steep fees and quickly.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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