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- Layer 2 networks are spending more gas than ever settling transactions on Ethereum mainnet.
- The Wednesday following Optimism's token launch saw Layer 2 networks use a record-breaking 3.95% of the daily gas consumption on Ethereum.
- Polygon's co-founder Sandeep Nailwal suggested on Twitter today that Ethereum might eventually evolve into a network where Layer 2 transactions occupy the majority of its blockspace.
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Ethereum Profits From Layer 2 Expansion
Weekly Ethereum gas spent by Layer 2 networks: Source: @funnyking/Dune
When Ethereum traffic increases it accrues value to all ETH holders. This is because the base gas fees on Ethereum are burned, reducing the overall ET...
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