Quick Reads and Hot Links Covering the People and Projects Who Are Scaling Ethereum
Dear Frens,
Happy New Year and welcome back to all things L2. 🎉 A lot has happened since the last issue, one of which is the Bitcoin ETF getting approved! This act has cleared the path for innovation, growth, and mass adoption.
Excitedly also, Ethereum's Layer 2 solutions are rapidly scaling the network, boasting over 36 active networks with almost $22B total value locked. Although while enhancing transaction speed and lowering fees, L2s face challenges like centralization and interoperability issues. Find out more in this issue’s editorial as we take a sneak peek into the current state of the Layer 2 ecosystem.
That said, recent headlines around networks like Gitcoin-backed Public Goods Network (PGN) winding down operations highlight the difficult economics protocols face. This Layer 2 solution on Ethereum is planning to wind down all operations within the next six months, targeting a complete shutdown by mid-2024. While this might look discouraging, it also shows the cycle of products, organizations and let’s face it — Life. We wish all buidlers and shippers the ability to weather the storm.
The L2 momentum is undeniable. Follow along with this issue as we dive into the newest developments propelling Layer 2 forward.
Contributors: Warrior, Tonytad, jengajojo, Boluwatife, Kornekt, WinVerse
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