Ethereum Layer 2 protocols may be the future of scaling on the Layer 1 network
to data from L2Fees, the majority of L2 protocols have significantly lower fees associated with transfers and swaps of assets when compared with Ethereum's.
Per the data, Loopring ranks as the cheapest platform to conduct transactions as the average cost to send Ethereum is pegged at $0.03, while swapping costs $0.05. Arbitrum , Polygon's zkEVM and zkSync Era require 6 cents, 16 cents and 5 cents, respectively. While these protocols are , the fact that they are able to combine speed and low cost when compared to Ethereum has already positioned them as outfits with immense potential.Ethereum, despite its soaring gas fees, is still the most robust blockchain protocol in the world, though there has been an ongoing targeted rebrand in the network's features as a proof-of-stake protocol.
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