Concepts

About layer2

A layer 2 is a separate blockchain that extends Ethereum. A layer 2 blockchain regularly communicates with Ethereum (by submitting bundles of transactions) in order to ensure it has similar security and decentralization guarantees. All this requires no changes to the layer 1 protocol (Ethereum).

About Arbitrum and Optimism

1. Arbitrum and Optimism are two of the largest Ethereum layer-two (L2) solutions that utilize Optimistic roll-up technology to scale the Ethereum network.
2. In the decentralized ecosystem, a Layer 1 network is a blockchain, whereas a Layer 2 protocol is a third-party integration that can be used in conjunction with a Layer 1 blockchain.
3. One of the missions is for these Ethereum layer two scaling solutions to save Ethereum from excessive transaction fees and help network congestion.
4. Users can bridge their ETH and ERC20 assets to Optimism using bridges such as the native bridges, Hop Protocol, Across, Hashflow and others.

Approach

We will compare two Ethereum Layer 2 scaling solutions (Arbitrum and Optimism) in this dashboard and we will introduce our favorite one to you.

The following metrics will be compared between the two Ethereum Layer 2 scaling solutions:

1. Number of transactions and success rate of transactions.
2. Transaction fee
3. Active and new users
4. TPS
5. Time between blocks
6. Number of swapps and swappers
7. new smart contracts and top contracts