Layer-two solution boosts Ethereum network

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Updated September 21, 2022 | Published January 15, 2021

2 mins read

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.

Want the chance to win an iPhone 11 Pro? Then take a couple of minutes to complete our CGN survey.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.
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