Ethereum (ETH) is the largest blockchain in the world. However, it faces huge scaling challenges that have made it slower and more expensive to use. For this reason, layer 2 scaling solutions for Ethereum have been created with the aim of improving efficiency and speed on the Ethereum blockchain. Although some like Polygon (MATIC) and Loopring (LRC) are quite popular, others are relatively unknown. But why are these solutions important:
-
Layer 2 scaling solutions for Ethereum are designed to address some of the inefficiencies associated with the Ethereum blockchain.
-
Over the past few years, these solutions have witnessed incredible growth in their own right.
-
The innovations around Ethereum scaling are going to get huge as Ethereum grows as the main blockchain.
Well, if you’re considering investing in some of these solutions, here are some relatively unknown projects you can check out.
Cartesi (CTSI) presents itself as the first operating system on the blockchain. It is a layer 2 solution designed to help developers leverage standard programming languages such as Linux in the blockchain ecosystem.
Data Source: Tradingview.com
Cartesi (CTSI) offers rich software tools and services to help create innovative and highly scalable smart contracts. At the time of writing, the token is trading at $0.6231 with a market cap of $275 million.
OMG Network (OMG)
OMG Network (OMG) is an optimistic Layer 2 scaling solution designed to improve efficiency and reduce costs for users. The platform also enhances smart contract capabilities and is known for offering users the ability to transfer ETH and ERC20 tokens faster and more efficiently compared to Ethereum.
OMG Network is one of the most promising layer 2 scaling solutions for the Ethereum blockchain. At the time of writing, OMG, its native token, was trading at $6.11. The project has a market cap of approximately $857 million.