In fresh times, consideration against layer two (L2) scaling alternate ideas for Bitcoin has persevered, even supposing bitcoin ability within the Lightning Community has seen a decline. In fresh times, other kinds of L2 alternate ideas hang emerged, taking pictures the honour of the crypto neighborhood. On March 19, 2024, the lead developer at Blockchair unveiled L2 Look, an exhaustive compilation of active and in-pattern Bitcoin L2 networks.
The Panorama of Bitcoin L2 Solutions
Many are likely unaware that, since gradual November 2023 or over the closing 90 days, the quantity of bitcoin (BTC) held internal the Lightning Community has lowered from 5,530 BTC to a fresh total of 4,730 BTC. Furthermore, it’s extremely probable that the existence of a wide range of other layer two (L2) networks compatible with the Bitcoin blockchain has escaped current see. On March 19, 2024, Nikita Zhavoronkov, the lead developer at Blockchair, launched a fresh web platform that facets dozens of L2 alternate ideas.
The checklist of L2s are broken down into different categories love Rollup, Affirm Channel, Sidechain, Credit Mint, and Chaumian Ecash, among others. It also explains what stage the mission is in as an instance whereas some are on mainnet, others are in pre-testnet mode, and in testnet mode as effectively. As an illustration, AINN Layer2 (AIL2) is an EVM-compatible Bitcoin L2 mission primarily based in 2023 that is in pre-testnet mode correct now. Merlin Chain a sidechain is a L2 powered by Bitmap and it is accessible on mainnet.
26 Bitcoin L2 networks are in pre-testnet mode, 15 initiatives are in testnet mode, and 26 are mainnet deployed at the time of writing. Pre-testnet mode Bitcoin L2s consist of initiatives love Fedimint, Citrea, BL2, Deem L2, and Facet Protocol. Initiatives within the testnet portion consist of Rooch Community, BOB, Bool Community, Rosetta Community, Satoshivm, Rollkit, and Drivechain. Mainnet infrastructure contains Core DAO, Elastos, Stacks, Sovryn, Mintlayer, Libre, BEVM, and Biop.
Among the crucial initiatives hang raised funds from investors from companies love Hashkey Capital, Okx Ventures, ABCDE, LD Ventures, Galaxy, DWF Labs, Andreessen Horowitz, Fenbushi Capital, and Blockchain Capital. Furthermore, the Blockchair webportal highlighting the myriad of L2s reveals whether or no longer the initiatives hang explorers or dashboards to discover the community’s actions and performance. While heaps of L2s on Bitcoin hang explorers plenty of discontinuance no longer, no longer no longer up to in preserving with the compiled checklist on l2.peek.
For an prolonged interval, the Lightning Community has maintained its prominence internal the discourse on Bitcoin’s L2 alternate ideas, overshadowing a plethora of other picks. Heaps of contenders aim to toughen Bitcoin’s scalability through various suggestions, but, in distinction to Ethereum’s success with its L2 choices, heaps of these Bitcoin L2 alternate ideas hang either struggled to create momentum or live within the very early phases of testing to save their viability.
What discontinuance you imagine relating to the dozens of L2s accessible for Bitcoin? Part your thoughts and opinions about this field within the comments portion below.
