Ethereum (ETH) is the biggest blockchain in the world. However, it faces massive scaling challenges that have made it slower and more expensive to use. Because of this, layer 2 scaling solutions for Ethereum have been created in a bid to enhance efficiency and speed on the Ethereum chain. 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 chain.
Over the last few years, these solutions have reported incredible growth in their own right.
Innovations around scaling for Ethereum are going to become huge as Ethereum expands as the leading blockchain.
Well, if you are thinking of investing in some of these solutions, here are a few relatively unknown projects that you can check out.
Cartesi (CTSI) touts itself as the first Operating System on the blockchain. It is a layer 2 solution designed to help developers take advantage of standard programming languages like Linux inside 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 was trading at $0.6231 with a market cap of $275 million.
OMG Network (OMG)
OMG Network (OMG) is a layer 2 optimistic roll upscaling solution designed to enhance efficiency and reduce fees for users. The platform enhances smart contract capabilities too and is known to offer users the chance 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 chain. At the time of writing, OMG, its native token, was trading at $6.11. The project has a market cap of around $857 million.