Overview of the 7 Major L2 Networks: Their Respective Advantages and Potential?
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Overview of the 7 Major L2 Networks: Their Respective Advantages and Potential?
In-depth analysis of the 7 L2 projects with the greatest future potential.
Navigating Web3 tides with focused insightsEthereum Layer-2 (L2) scaling solutions are booming and will be the biggest highlight of the next bull market—so how do you find your 100X in this space? To answer that question, we’ll dive deep into the seven most promising L2 projects for the future.
This article summarizes insights from Crypto researchers MooMs and 0xFinish shared via Twitter threads.
1. Optimism
In October 2022, Optimism launched OP Stack—an open-source development stack powering the OP mainnet. It introduced the concept of a "Superchain," a network of L2 blockchains (OP chains) built on OP Stack.
The stack consists of various code repositories that enable the creation of highly customizable L2 blockchains. At its core, it aims to simplify the process of building new L2s.
The Bedrock upgrade on June 6, 2023, marked the first official version of OP Stack, introducing several key improvements:
• Lower fees
• 70% faster deposit times
• Modularized proof system
• Improved node performance
Following the Bedrock upgrade, Optimism’s next step is evolving into the Superchain. Optimism’s L2 rollup chain will be the first member. Coinbase’s upcoming Base chain will be the second.
After raising $240 million, Worldcoin also plans to build on OP Stack. Binance’s BNB Chain has launched a testnet for opBNB—an EVM-compatible OP chain based on OP Stack.
The ultimate vision is a “Superchain” composed of diverse L2 networks built with OP Stack—all sharing sequencing, proving, and cross-chain infrastructure, enabling seamless communication across chains.
Optimism currently ranks as the third-largest L2 by TVL, but with its OP Stack vision and major partners, it has strong potential to become a leader among L2s in the coming years.
Too many people focus on Arbitrum while overlooking Optimism. Coinbase and Binance bring massive user bases to Optimism—and I believe this is just the beginning.
2. Arbitrum
Arbitrum is an Optimistic Rollup and currently the largest and most dominant L2 network by TVL, launching its mainnet in August 2021.
The Arbitrum ecosystem currently includes:
• Arbitrum One: The core rollup of the entire Arbitrum ecosystem
• Arbitrum Nova: A rollup optimized for high-volume applications like gaming and social media
• Arbitrum Nitro: The open-source stack powering Arbitrum L2
Let’s take a closer look at Arbitrum Nova, which offers gas fees up to 90% lower than Arbitrum One. While Nova sacrifices some security, it’s ideal for games, social apps, and other high-bandwidth use cases. Recently, Opensea and TreasureDAO launched markets on Arbitrum Nova.
What’s Arbitrum’s vision? Similar to Optimism, Arbitrum launched a public, open-source framework in March 2023 called “Arbitrum Orbit,” allowing any developer to create and deploy L3 chains without permission or formal approval.
The easiest way to understand L3s is to think of them as L2s built on top of Arbitrum One—which itself is already an Ethereum L2. This greatly enhances Arbitrum One’s scalability, making it the ideal solution for high-throughput applications.
The key difference between OP Stack and Arbitrum Orbit is that L3s are built on top of Arbitrum One, whereas OP chains are independent networks sharing security.
L3s may become a compelling narrative in the future. However, I believe OP Stack has greater growth potential due to broader institutional adoption and wider user reach.
Arbitrum vs Optimism
The primary technical difference lies in fraud proof mechanisms: Optimism uses single-round proofs, while Arbitrum uses multi-round proofs.
This means Optimism’s approach is faster, but potentially more expensive due to higher gas costs from L1 execution. Arbitrum takes longer but is more cost-efficient.
Additionally, Optimism uses the EVM, limiting developers to Solidity. Arbitrum runs on its own Arbitrum Virtual Machine (AVM), supporting all EVM-compatible programming languages.
3. Polygon
Polygon is a blockchain focused on enhancing Ethereum’s scalability through multiple approaches. Its flagship product is the Polygon PoS sidechain, currently processing 2–3 million transactions per day across 300k–400k addresses.
Polygon has also entered the dApp-specific chain narrative with Supernets—a solution allowing developers to build customizable app chains.
Moreover, Polygon zkEVM—their EVM-compatible ZK-rollup—launched on mainnet at the end of March, averaging 20,000–50,000 daily transactions since.
The recent Polygon 2.0 upgrade aims to unify these platforms into a seamless user experience.
Polygon 2.0 envisions an ecosystem of ZK-powered L2 chains, connected via a unique cross-chain coordination protocol enabling seamless interoperability between Polygon zkEVM, Polygon PoS, and Supernets.
Polygon 2.0 consists of four protocol layers, each supporting a critical function within the ecosystem:
• Staking Layer: Enables restaking using Polygon’s native MATIC token
• Interoperability Layer: Facilitates cross-chain messaging within the ecosystem
• Execution Layer: Allows any Polygon chain to generate ordered transaction batches (blocks)
• Proving Layer: Verifies all transactions across every Polygon chain
I believe Polygon is one of Optimism’s strongest competitors for mass adoption. It has already partnered with numerous major Web2 companies, bringing in millions of users.
4. Base
“Base is a secure, low-cost, developer-friendly Ethereum L2 designed to bring the next billion users to Web3.”
Built by Coinbase on OP Stack, Base plans to gradually decentralize over the coming years.
Thanks to Coinbase’s seamless crypto-to-fiat gateway, its 110 million users and $80 billion in assets can easily adopt Base.
Base’s testnet launched on February 23, with mainnet expected later this year.
Even during the bear market, Coinbase had 8.3 million monthly transacting users (as of December 2022). In comparison, Polygon, Optimism, and Arbitrum averaged 3.04 million users, $1.23 million in revenue, and around 200,000 daily active users.
This implies that Coinbase only needs to convert 2.5% of its 8.3 million bear-market users to match the average daily active user count of these three competitors. Therefore, Base has strong potential to become a leading L2 in DeFi (trading).
5. Mantle
Mantle is a novel modular L2 network aiming to elevate Ethereum’s scalability to new heights while maintaining strong decentralization and security.
Launched in 2023, Mantle separates blockchain into three core layers—consensus, execution, and data availability—for independent optimization:
• Consensus Layer: Functions similarly to L1 chains, focusing on ordering transactions and blocks.
• Execution Layer: Isolated from the others, dedicated solely to executing transactions and smart contracts.
• Data Availability Layer: Built on innovative DAS technology, ensuring data is always accessible and not withheld, enhancing network security.
Mantle’s modular design could be a game-changer for the L2 landscape. By decoupling the three key layers, it enables greater flexibility and scalability without compromising security or decentralization.
Mantle also draws attention through its strategic partnership with BitDAO, a decentralized autonomous organization. This alliance could bring significant value to the Mantle network and solidify its position in the blockchain ecosystem.
A unique aspect of Mantle is its focus on improving user experience, especially for blockchain gaming and GameFi. With high scalability, lower transaction costs, and faster speeds, Mantle could revolutionize the GameFi space.
Although Mantle is new to the L2 space, it has shown immense promise. Its innovative tech, UX focus, and commitment to decentralization make it a strong contender in the increasingly competitive L2 arena.
6. opBNB
In June 2023, Binance announced the opBNB testnet. Built on OP Stack, opBNB emphasizes compatibility with Binance Smart Chain (BSC), offering clear advantages for BSC developers and users.
Like Base, opBNB will leverage Binance’s vast user base, offering millions of existing Binance users a seamless and cost-effective L2 solution. This positions opBNB for substantial growth within the DeFi ecosystem.
Notably, opBNB’s success will be closely tied to BNB, the native token of the Binance ecosystem. If opBNB gains traction, it could positively impact BNB’s value, creating ripple effects across the entire Binance ecosystem.
According to the roadmap, opBNB will launch its mainnet in 2023. The mainnet launch is worth watching, as it will showcase how Binance’s L2 performs in areas like high-frequency trading, gaming, and social networking.
7. zkSync
zkSync is an L2 scaling solution developed by Matter Labs. Using zkRollup technology, it aims to deliver Ethereum-level security and is one of the key projects driving the L2 revolution.
zkSync uses zero-knowledge proofs to bundle multiple transactions into a single proof. By moving most computation off-chain while relying on Ethereum’s mainnet for security, it achieves high scalability.
A key advantage of zkSync is its ability to let users pay gas fees in the same token they’re transferring—not necessarily ETH. This greatly improves user experience and brings Ethereum closer to mainstream adoption.
Matter Labs is also building zkSync to support upgrades without hard forks. This modular design ensures compatibility with future Ethereum upgrades and allows it to scale alongside the growing ecosystem.
By using a PoS consensus mechanism for block validation, zkSync stays true to Ethereum’s core values of decentralization.
zkSync’s ultimate goal is full permissionlessness—enabling any project to build and deploy smart contracts on its network. This further supports Ethereum’s scalability and diversity of dApps.
zkSync’s vision extends beyond being just a scaling solution—it aims to be a stepping stone toward a more scalable, secure, and user-friendly Ethereum. With zkSync, the potential for Ethereum to transform industries is limitless.
Tracking projects like zkSync is essential to understanding the future of Ethereum and DeFi. As Ethereum continues to evolve, zkSync will undoubtedly play a pivotal role in its growth and adoption.
zkSync isn’t just competing with other L2s—it’s setting the standard for security, scalability, and efficiency. As the Ethereum ecosystem grows, zkSync deserves long-term attention.
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