Any Layer 2 crypto-list must start with Arbitrum. Based on Optimistic Rollups, Arbitrum can process transactions up to 10 times quicker than Ethereum’s mainnet and save up to 95% on gas expenses. Its peak throughput is 4,000 TPS. Regarding TVL, as of January 2024, Arbitrum holds a more than 51% market share among Ethereum’s top Layer 2 crypto projects.
With well-known tools and efficient deployment procedures, Arbitrum offers a developer-friendly environment. It is moving toward a community-driven future while staying true to its decentralization goals. Its ecosystem supports many gaming platforms, NFT marketplaces, and DeFi protocols. Uses for the native token, ARB, include network governance, staking, and transaction fees.
Compared to other well-established L2 solutions, Arbitrum is more vulnerable due to its new debut, and its security is dependent on the Ethereum mainnet, just like any different Layer 2 blockchain. But because of a robust development staff and vibrant community, Arbitrum is constantly growing and changing, putting itself in a great position to compete in the L2 race.
In the L2 ecosystem, Arbitrum has grown to be one of the most favored blockchains since its 2021 launch.
Additionally, by utilizing a non-custodial exchange, this was one of the first decentralized perpetual exchanges to provide leveraged trading. With over $1.5 billion in stablecoins and $3 billion in TVL, Arbitrum is a popular bet for the next bull run as investors are beginning to have faith in this venture. The newest project in the group, ARB, is expected to reach its $5 goal during the next bull cycle. Currently, 12.5% of its tokens are in circulation overall. The token will be unlocked monthly, beginning in March 2024 and ending in March 2027.
Source: https://coingape.com/top-layer2-crypto-projects/