Scroll Launches Ethereum Layer-2 zkEVM Protocol on Mainnet
The Ethereum layer-2 protocol Scroll has officially launched its zero-knowledge Ethereum Virtual Machine (zkEVM) platform on the mainnet. The scaling solution aims to provide compatibility with the Ethereum network and offers developers the ability to deploy their existing Ethereum projects onto Scroll without making any codebase changes. Scroll has already been running in stealth mode for about a week before its official announcement. Over the past year, the team has focused on community building and encouraging developers to experiment on Scroll, resulting in over 100 projects being deployed on the platform’s testnets. Scroll’s zkEVM sets it apart from other layer-2 protocols by providing a similar experience to Ethereum.
Entering a Crowded Layer-2 Ecosystem
As Scroll enters the layer-2 ecosystem, it faces competition from established players such as Arbitrum One and Optimism. These two protocols currently dominate the market, with Arbitrum One holding a 55% share and Optimism having a 25% share of the total value locked in layer-2 solutions. Coinbase’s Base has also gained traction, securing just over 5% of the market share. Despite the competition, Scroll’s launch comes at a time when Ethereum gas prices are rising again, making scalability solutions like layer-2 protocols more attractive. However, L2 activity has started to decline over the past month.
Hot Take: Scroll’s Launch Marks an Important Milestone for Ethereum Scalability
The launch of Scroll’s zkEVM protocol on mainnet is a significant milestone for Ethereum scalability and adoption. By providing compatibility with existing Ethereum projects and offering a virtually identical experience, Scroll aims to attract developers and users en masse. The protocol’s emphasis on security, with multiple independent audits and an open-source codebase, instills confidence in its reliability. As Ethereum gas prices continue to rise, layer-2 solutions like Scroll become increasingly crucial for reducing transaction costs and improving scalability. With over 2,000 ETH already deposited on Scroll since its launch announcement, it is clear that there is significant interest in this new layer-2 protocol.
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