Scaling solutions like Polygon, Arbitrum, and Optimism emerged to solve precisely these issues.
The costs associated with a blockchain transaction are basically the cost of processing and storing information. These solutions essentially move activity away from the costly mainnet. Once a series of transactions or crypto operations are concluded, the results of these activities (who owns which coins and how much, for example) are then sent and secured on the mainnet.
These ease congestion by reducing the amount of information a base layer blockchain needs to validate and secure.
The gas cost of Optimism, for example, is currently 98 times lower than that of Ethereum, according to data from Dune Analytics.
Optimistic growth for Ethereum scaler
Optimism is gaining popularity lately, with a total value locked (TVL) standing at $304.1 million and nearly 40 different DeFi projects using the technology, according to data from Defi Llama.
Besides Binance, other cryptocurrency exchanges have also taken steps toward integrating layer-2 networks.