🔬Ethereum Layer-2 networks now process 90% of transactions, up from 77% pre-Dencun upgrade. L2s face centralisation, security, interoperability, finality, and UX challenges. This report explores the new L2 landscape, examining Cronos zkEVM, Taiko, Morph, Blast, Reya, and MegaETH.
💡 Our key findings include:
✅ Cronos zkEVM, a ZK L2 solution from Cronos Labs, addresses DeFi challenges with shared liquidity, yield-bearing assets, and improved usability via account abstraction. It operates across Ethereum, zkSync hyperchains, and Cronos chains (EVM and POS).
✅ Taiko is a Type 1 zkEVM rollup with contestable rollups where Ethereum validators sequence transactions and blocks, undergoing a contestation process. Booster rollups let dapps scale across L2s. Multi-proofs require multiple validations for integrity and accuracy.
✅ Morph, an L2 with modular blockchain architecture, divides operations into modules. It employs a decentralised sequencer for consensus, Optimistic zkEVM for settlement, and submits ZK proofs to L1 for data availability. Responsive Validity Proof (RVP) merges fraud and validity proofs, generating ZK proofs during disputes.
✅ Blast, an EVM-compatible optimistic rollup, offers native yields for ETH and stablecoins from ETH staking and MakerDAO’s T-bill protocols. Users and dApps earn Blast Points based on their balances. Launched on 29 Feb 2024, its TVL peaked at $2.3B on 6 June 2024.
✅ Reya Network, an Ethereum L2 on Arbitrum Orbit, targets trading, liquidity fragmentation, capital inefficiency, and performance limits. Using AnyTrust for data availability offers faster, cheaper transactions but adds an additional trust assumption.
✅ MegaETH decouples transaction execution from full nodes with three roles: Sequencer handles execution, Provers provide cryptographic proofs for transaction validity, and full nodes validate state updates without re-executing transactions.
Check out the complete report for key insights and more:
More key insights into the new L2s, available exclusively to Private members and #LoadedLions holders 💳🦁
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