As Ethereum continues to mature and progress, companies have more reasons to be excited about network investment and construction. In fact, by 2024, global commercial blockchain spending is expected to reach nearly $19B, According to IDC. Ethereum layer 2 (called “L2”) scaling solution Great help in breaking down the barriers that companies have established on the mainnet. First, the L2 solution aims to solve the scalability problem, providing throughput that is many orders of magnitude higher than Ethereum itself (layer 1, or L1). L2 solutions also improve speed and latency issues. Some L2 solutions provide “instant” transaction confirmation and provide economic guarantees that the transaction will be included in the next L2 block. With the continuous development of Ethereum, another benefit we see is the transition from proof-of-work to proof-of-stake, which makes Ethereum more energy-efficient and reduces concerns about waste and environmental impact. Similarly, L2 is specifically designed to meet the challenge of rising gas prices in Ethereum; compared to directly trading on L1, anchoring L2 transactions on L1 consumes much less gas, thus significantly reducing L2 transactions cost. Therefore, whether it is a zero-knowledge technology for privacy and confidentiality, or improving scalability through aggregation and L2, Ethereum as a mature technology is crossing the gap, and commercial use reflects this.
