L2s FOR DUMMIES

A layer 2 blockchain (L2) is a chain that processes transactions off the main chain (L1) then batches them together to settle on the main chain. Fees are paid by the L2 to settle on the main chain. Ethereum pioneered the concept to allow for social and technical scalability of the network.

Base, Arbitrum, OP, Unichain, World Chain, Starknet, and ZK Sync are leading L2s on Ethereum today. All these chains and the apps built on them grow the network effect of EVM, distribute ETH as a store of value and burn ETH.

The L2 architecture gives builders self sovereignty while also benefiting from the network effect of the L1. All competing L1s will eventually recognize this, they’re just many years behind Ethereum.