Bitcoin Forum

Well title says it all, layer 2 scaling solutions are basically an interesting development in blockchain technology. By conducting some transactions off-chain, protocols like Polygon and Arbitrum aim to dramatically increase throughput while cutting costs.

Looking forward, I've been keeping a close eye on projects like Map Protocol that are showing promise in taking the load off of blockchains. Since they are working to enable cross-chain messaging between Bitcoin Layer 2 networks and others like Ethereum. If successful, this could potentially unlock new interoperable applications. Combined with their own MAPO token, it's starting to look like a full-fledged ecosystem.

Of course the big question is always, can it really deliver at that massive scale? I'm eager to see how real testing shakes out as development progresses. But their MAPO token getting listed on major exchanges like Bitget, Kucoin tells me big exchanges are taking an interest too.

Think about it, If a project like Map protocol pulls off even a fraction of their vision, it could be huge. So let me know your thoughts – do you see Layer 2 as a major part of Bitcoin's future?

For me yes, as the traffic and volume in cryptocurrency are flowing causing Ethereum to somehow congested, layer-2 networks are an alternative.
The DeFi market right now also increasing and it will continue increasing some people already using layer-2 networks as alternatives to Ethereum since most DeFi platforms are already exist in layer-2 networks.

I am not sure about Arbitrum but Polygon now has it's own ecosystem. I have never thought that they will grow so rapidly in a few years. As Ethereum network is again going through congestion due to the bull run I think investment in layer 2 would be fruitful. Especially in Polygon as it can break it ATH high of $2. At the moment it is still at the right price point to invest a lump sum and wait for few months.

Well really cant blame it though as layer2 reduced the transaction on some main like eth making it more cheaper transaction fees. Well I am using a lot of layer2 like arbitrum and optimism just to transact on some dapps and the fees werent that expensive compared to eth mainnet. Also some users were jumping off ship due to the gas fee eth has been showing lately.

Honestly I love Layer-2. They were created to solve problems experienced by layer-1, especially network congestion. Currently I often use layer-2 to make transactions because it is much cheaper than erc20. But I heard in the news that this March Ethereum will create a mechanism that will make gas fees much lower. I've forgotten what the project was but I think it was around March 13th or 14th.

Layer 2 is the future of ETH scaling solution but there are already too many layer 2 on the market that are hard to anticipate which one is going to get most of the adoption. But currently polygon, zksync, arbitrum, optimistic, manta are the market leader right now and it seems it will be really hard for other new layer 2 replace them. But these existing layer 2 token price is still in their support zone and it seems they are going to take off as soon as the bull market initiated.

the one layer 2 that worth watching are only layer 2 that got massive funding if we are talking about technology they usually successful in giving alternative for people when it comes to sending transactions.
usually the L2 that strive are the ones that give massive airdrop to incentivizes testing of their blockchain so that when it comes out its all become perfect and usually bug free or we can say its stable technology.
the only problems with L2 though they still aren't spared of the fluctuation of the fee, talking about L2 ideally they should be having few cents of gas fee for a transactions but unfortunately they are
still depending on their smart contract to submit all these transactions processed off chain from ethereum blockchain back to ethereum eventually and if this submit transaction fee is high then its gonna be
increasing the fee in L2 so that there's enough money to submit.
but overall they are indeed worth watching in my opinion most of the project L2 that are backed by big company are usually succeed, i don't know about the ones that don't even got proper funding though.

I personally wouldn't touch Ethereum Layer 2s as investments besides trying to farm their airdrops. There are just so so much Layer 2s that in my case it's pretty much impossible to determine which one will actually win in the long-term. The few times that I held Layer 2 tokens, it's because I got the airdrop, or just for a short-term trade.

L2 will be the main driver of this bull season, as the past shows us the old problem of scalability on Ethereum not making everyone happy. Looking at current L2 I really feel like it is starting to grow a lot, but the hype and overuse of terminology will cause FOMO, but this is hard to avoid in a competitive space compete for any market share.

Personally, I really like OP and ARB and would actually give more priority to this crypto when talking about L2, and they are also leading in market share.

Although it's just the beginning of this price increase period, it really feels like what L2 is preparing will bring a space that people will feel more satisfied with in the near future.

They definitely will be a huge part of not only bitcoin but probably a lot of other altcoins as well. Bitcoin will mainly benefit from this as one of its main problems is the blockchain being too congested thus resulting in high transaction fees and slow transaction time

it’s definitely a project that is worth watching

Yes I also agree that the future will be more extensive with layer 2 and less burdensome on the main network, and maybe we will see more developments that stand on layer 2 because it is much more flexible in any case, including in terms of price which is the concern of many people both in bitcoin and in ETH or other L1 networks will certainly experience the same thing if they are flooded with orders and exceed their limits.
For Ethereum itself The Dencun will probably be a better revolution for Ethereum and become more widespread and cheaper, likewise L2 will find a much cheaper price in its transactions it will be an option for those who have little money to transact.

Layer 2 scaling solutions will witness greater demand in the coming months, assuming that the number of users of the main networks will increase, which will lead to higher fees. Therefore, thinking about using layer 2 options will be higher, especially since the majority of traders are investors, and reducing deposit and withdrawal fees will enhance their profits while maintaining an acceptable degree of safety.

From an investment standpoint, increasing demand will mean that its value will increase, but the question is which of these projects will bring the limelight, and the demand for them will increase more, which implicitly means an increase in the price.

Well, for now, many of the Layer 2 projects have gained a lot in its price and many of them already returned nearly 2x profit to their investors those who bought at a lower/early stage now the market sentiments are very bullish which means we are standing in selling zone where we can book some ratio of profit from the total amount we are holding in layer 2 and if the market will allow us to buy back from the amount we have booked in the form of profit I would happily buy back.

Well, according to some analysis market can be even more bullish in the near coming time frame which means the layer 2 project price may also increase but there may be a correction after or before the halving event. So till that time we should watch the market patiently and enjoy the bull season. DYOR!

L2 is indeed a solution to ethereum's limitations, which are now reaching their peak. In this way, gas fees will definitely be more expensive than usual. and many are starting to switch from L1 to L2. therefore L2's fame became greater.
as an alternative, it is certainly very profitable. but still hope that the ethereum developers can solve this high gas fee problem.

It seems that there is a lot of attention taken with layer 2 projects but don't take all of them as serious as you are because they will just come and go. Especially on this season, many are into airdrops and bull runs are going to make them look interesting but figuring out who'd stay for the longer is hard to do. But if you're not for keeps and just want to get into it for short term, you can use your time and take advantage of them while they're still selling like hot cakes.

I think it could be a part of Bitcoins future because it has a number of reasons. The major thing that contributes to the success of an idea is its problem solving capacity and layer-2 projects are doing it quite  efficiently.

Their transaction fees are very lower than other transactions networks. They are solving one of the biggest issues coins like ETH are facing in congestion. They're converting the blockchains to cross chains for a better problem solving strategy. So in conclusion it's a very good initiative to do these projects and they have a bright future. Arbitrum, Optimism is so far performing best and hope ZKsync and Linea will launch with new features.

I started buying Matic from the bear market and stopped at $0.8. It's price action has been slow but promising and that's why I am looking towards MAP protocol cos it's still around 85% from its ath. Buying now could be a smart play.

I don't know about Map protocol but what I do know is that L2s will strive given their current applications and potential benefits if they can execute on their "scaling ethereum" promises.
Congratulations on your MATIC buys. Polygon have seen some good moves (green gains) in the market recently as mid to major cap tokens have move alongside Bitcoin and Ethereum. But I will skip map protocol for the following reasons.

• Tokens that  aren't mid/major and peaked in the last bull run like Map protocol will find it significantly hard to regain their old all time highs: see the likes of NEO, Omisgo (OMG)
• in this market, only the new shiny tokens gets the most attention except it's an overly popular old project and Map protocol doesn't meet any of those requirements.

You never can tell, once the team is good, community support is decent coupled with exposure from platforms ( bitget etc) op mentioned and bullish market sentiment. Any good token will fly. I'll be back when MAPO starts printing bullish candles😎. Plus you can look at other projects like NUUM & SCA etc. There's excitement on them... NFA

Layer 2 specially in Ethereum are going to be worth the watch for some years to come. Ethereum provides a good platform, documentation and ease of use to work on L2 networks even though Ethereum L1 is nearly unusable. The options of L2 are ever increasing and new projects are trying various ways to increase tps while decreasing transaction fees. The recent duncan upgrade in Ethereum has played a vital role in securing the future of L2  on ethereum.
Though I would not suggest L2 for long term. It's an alternative option till people don't find a good L1 alternative. And with the current market trend, it's not hard to predict that L2 could be obsolete within next 10 years as newer L1 or a different technology that what we are using replaces it.

Absolutely. I'm sorry if my previous post came out differently. I have nothing against Mapo. As someone who doesn't trade on Bitget, I'd prefer if Mapo gets listed on mainstream exchanges like Binance/Bybit/Okx. There's only so much exchanges I can give my KYC data too.

Well, that aside; I recently got to know about SCA. In that the token was available on some pre-market platforms like whales market and some OTC desks and listed on Bybit recently. I will keep an eye on it.

QQ: Is there any chance that it is related to this project? https://coinmarketcap.com/currencies/scallop/

You have explained that the goal of L2 is to increase throughput and cut costs. If transaction fees are high then people will think several times about making transactions, However with the presence of L2 it becomes a transaction option with lower costs. I think L2 is not only important for the future of bitcoin but also important for the future of crypto.

I believe the 2nd layer coins have a chance to hold.  Because we know that Bitcoin and ETH have so big transaction fees and dense and that make so many crypto users choose layer 2 coins for their transactions.  Especially with the crazy increase at the moment, of course it will make the opportunity to come into contact with the second layer even greater so that will also bring it into this bullish moment.  To invest in layer 2 of course still requires an good analysis.  In my opinion, Polygon is included in one option.  I see polygon as having the potential to continue to improve. I think we will see more coin on layer 2 will bring into the up trend soon.

No. That one is SCLP- something about crypto payment systems. But SCA is a DeFi protocol on sui Blockchain and the first to receive grants of about $3m from them..

https://coinmarketcap.com/currencies/scallop-protocol/

https://i.ibb.co/8mFh7GV/IMG-20240309-104657.png (https://ibb.co/NFw4yfz)

I agree that they are at least worth to look at. Doesn't mean you have to invest into them, it just means that you are going to end up with a few more coins that you are going to end up checking. If it does well then it is going to be fine, but if it doesn't do well then you are going to end up with something else.

I believe that the best thing to do would be checking them out as much as you possibly could do. In the end, we are talking about a situation that is only checking, that's it. I hope that we could invest into them and that should be the most important thing. I believe that we should consider the situation to be changing in the end so if it looks good then you are going to do very well as much as possible for sure.

I somehow agree with that but not everything is going to fly on this bull run. Some may do it temporarily but it all depends to the demand from the community.
Despite devs are going to be good with what they work on for these L2 projects. The value of the tokens that they work on will still depend on how welcoming the community is and that's what it will show with its demand reflecting the price of it.