- Optimism & Arbitrum scale Ethereum with optimistic rollups, enhancing speed & reducing costs, benefiting users & developers alike.
- Aptos leverages Proof-of-Stake & the Move language for rapid transactions, aiming to lead the way in mainstream web3 app adoption.
- Immutable revolutionizes NFT trading on Ethereum, offering zero-fee minting & trading, boosting NFT projects like Gods Unchained.
Due to the scalability challenges within Ethereum, a number of innovative solutions have come into the fore. The novelty from Optimism, Arbitrum, Aptos, and Immutable makes them the forerunners in this regard, each of these having presented unique approaches to performance and usability improvements on blockchain.
Optimism(OP): A Layer-Two Solution
Current price:$1.75
Market cap:$2.080
Optimism is one of the major layer-two blockchains on Ethereum, which rolls out optimistic rollups, thus enabling faster transaction processing and keeping security levelled via the Ethereum mainnet. It currently has 97 protocols on board, such as Synthetix, Uniswap, and Velodrome, for a total value locked of over $500 million. Optimism can be utilized by adding the chain to MetaMask and bridging tokens like ETH. One of the most important events for Optimism was the airdrop of its OP token on May 31, 2022, which became a turning point for the network.
Arbitrum(ARB): Scaling Speed and Cost Efficiency
Current price:$0.6343
Market cap:$2.294B
Another layer-two scaling solution, Arbitrum is designed to enhance Ethereum’s performance due to its optimistic rollups. This design makes it possible to achieve high-throughput and have lower transaction fees by shifting most of the computation and storage needs off the main chain. Its native governance token, ARB, entitles holders to the right to participate in protocol upgrades and fund allocation through the Arbitrum DAO. The year 2023 is ambitious for Arbitrum, with a layer-three solution launch called Orbit and further expanding its validator network. The airdrop of the ARB token dated March 16, 2023, rewarded early users and DAO participants with 12.75% of the total supply.
Aptos(APT): A New Layer-One Blockchain
Current price:$8.18
Market cap:$4.107
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Aptos is the change in blockchain technology with its layer-one Proof-of-Stake architecture and the Move programming language. It was designed for theoretical throughput of more than 150,000 transactions per second in an effort to drive mainstream adoption of web3 apps. It recently raised major funding of $200 million in March 2022, adding another $200 million in July from major venture capital firms-proof that investors are very confident in its vision.
Immutable(IMX): The Leader in NFT Solutions
Current price:$1.79
Market cap:$2.872B
Immutable claims to be the first layer-two scaling solution specifically tailored for NFTs on Ethereum, beating many of the limitations of Ethereum like low scalability and high gas fees. On Immutable, users can mint and trade NFTs with zero transaction fees, making for a better user experience and fast trades. Already, projects like Gods Unchained use Immutable’s capability in innovative game development, while a wide range of uses is conceived for the platform.
Whereas blockchain technology is surely improving fast, these four solutions set the pace for scalability and usability in the Ethereum ecosystem: Optimism, Arbitrum, Aptos, and Immutable. How they approach innovation is not only a solution to existing challenges but also paves the way for further development in the blockchain space.
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