l2beat VS info

A real layer 2 would look more like something built on Ethereum (can see all its L2s at https://l2beat.com).

Essentially it's a separate network that every few minutes takes every transaction and compresses it into a data blob that it saves on Ethereum along with a proof that the computation was done correctly. The Ethereum L1 nodes then only need to verify the proof instead of re-executing all transactions that happened on the L2.

With this design users can go straight from an exchange like Coinbase onto the L2 and never need to use Ethereum, and fees are 10x cheaper because of the data compression. Fees will soon be 100x cheaper as Ethereum is adding extra space just for these L2 data blobs that is much cheaper than normal Ethereum data space.

Unfortunately it can't be done on Bitcoin right now because Bitcoin nodes don't have Turing complete scripting and so can't verify the proof that an L2 posts to Bitcoin.

We are running & maintaining the site (https://l2beat.com). Our work is to look on the current Layer 2 deployments on Ethereum & show risks and statistics to the end user. Very interesting thing is that we are a public goods company trying to stay as objective as possible in the industry full of subjectivity. What I mostly like in this job is that I am a part of the project shaping how it looks, not only mindlessly taking someones orders.

Candidate:

Ecosystem fragmentation is not necessarily a bad thing. It leads to rapid development through competition. Different L2s are competing against each other to provide the best service and that has lead to a cambrian explosion of solutions. It's also a very effective way to explore the solution space, I'm sure many will disappear, others will get eaten, and at some point there will be consolidation. But all this seems like a good approach early on when tackling complex problems for which the ideal trade-offs are not entirely obvious. Explore as much of the solution space as possible and trim later on.

A perhaps more pernicious problem is liquidity fragmentation. Moving assets between L2s is a tedious friction that leads to fragmentation of liquidity. In that respect, zero-knowledge rollups present a big advantage as you can share liquidity between them as long as they share some zk-circuits that allow to prove statements to both chains. All this is being very actively worked on. And the technology behind it is short of fascinating. The typical HN audience would have a huge hard-on for it, if they didn't have such a strong preconception against crypto-anything.

If anyone is curious to learn more about L2s a good starting point is here: https://l2beat.com/

And if you want to see Ethereum scaling progress you can check it here: https://l2beat.com/scaling/activity

The next major upgrade to the protocol, slated for late this year or early 2024 (date is not finalized yet), will focus on scalability by making L2 activity veeery cheap.

These two links will give you a lot of the info you need to compare L2s: https://l2beat.com/ and https://www.growthepie.xyz/ - enjoy.

Source: https://l2beat.com

Thanks! l2beat.com is the best.

In addition to what others said, I always find https://l2beat.com useful to see a summary of the security assumptions behind the various L2s. Currently, all L2 need to be trusted to some extent as they are still quite in development.

Exponential.fi has good summaries and links to the projects. And https://l2beat.com is also great for judging L2s.

Take a careful look at https://l2beat.com

https://info.uniswap.org/

Uniswap alone clears this amount. Part of the power of decentralized exchanges is that every trade is logged and publicly available, which is not something you can claim for their centralized counterparts.

"No one goes there anymore, it's too popular!"

Yesterday over $2.1B in volume cleared on Uniswap [0]. It's certainly useable by someone. If you want cheaper fees, try it on Arbitrum or Optimism.

[0] - https://info.uniswap.org/#/

Somebody would! (Or rather, some thing.) There are a lot of smartcontract liquidity pools in Ethereum that facilitate trade between two tokens. The set an exchange rate by a formula that only looks at how much of each token is currently in the pool, not at prevailing market price[1].

So if and when it's apparent that Tether will be worthless, there will be a mad dash to dump it in those LPs in exchange for the other tokens, which was what happened to TerraUSD [2].

Here's a list of the LPs that have Tether as one token, just on Uniswap:

https://info.uniswap.org/#/tokens/0xdac17f958d2ee523a2206206...

[1] This as the effect of writing a persistent ITM option by the extent to which the LP's price diverge's from the market exchange rate.

[2] Here's Curve's infamous 4pool, which has TerraUSD (UST) and three other non-defunct stablecoins -- it's 97% UST now: https://curve.fi/4pool

A quick look at some code on Uniswap, for example, shows that they use TheGraph for their statistics services - there would be no reasonable way to handle this data otherwise.

Coinbase is a centralized exchange. Of course it runs in a SQL db or whatever. They only need to touch the chain when settling inflows/outflows.

But something like Uniswap: https://app.uniswap.org/#/swap is fully on-chain. Every trade happens on chain, because the application is an immutable smart contract liquidity protocol, called an AMM, or automated market maker.

It does as much, if not more, volume than Coinbase ($1.98B in last 24H): https://info.uniswap.org/#/

Is there an Info Site for JunoSwap, like "info.osmosis.zone" or "info.uniswap.org". Thanks!

Go to info.uniswap.org and search for Hex and select the pool you want to look at. In the "liquidity" tab you can see how much Hex/other coin is available for buy/sell at each price level. It defaults to uniswap V3 but you can manually select V2 in the top right and do the same.

how can one run interface (app.uniswap.org) and v3-info (info.uniswap.org) on the local computer, and to set provider as local node, for example geth, and not "be connected" to some external node provider? I want to be fully on my own if:

Fun fact: after the DAO had essentially folded, the $PEOPLE token folks were left holding could be traded for more than 10X the value it cost to go in on the DAO.

To this day, it still trades for ~10X its initial value on Uniswap: https://info.uniswap.org/#/tokens/0x7a58c0be72be218b41c608b7...

Anyone who bought more than ~$50 of DAO tokens before the auction could stand to make a profit on the aftermarket even accounting for gas fees.

In case it needs to be said: this all seems crazy to me, but it is what it is.

And REF won't diversify across the entire L1. The REF coin staking is a bet on trading volume, not on price, and it's quite possible for coins in the ecosystem to go up in price without a lot of trading volume. If anything, a downward market causes more trading volume than an upward market: look at the graph on the right side of this page and you'll see more volume the last few days due to panic trading than in any previous weeks.