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Are Layer 2 Blockchains really helping web3?

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Are Layer 2 Blockchains really helping web3?

Layer 2 Blockchains say they exist to make web3 faster, easier to use, and scalable. But what help does it offer in terms of use cases? While meme coin trading, gambling, and betting have gained popularity, they face significant legal hurdles. Major lending protocols and DAOs (with billion dollars in volume) still operate on OG Layer 1s due to their robustness and security. For Layer 2s to gain wider adoption, they must offer tangible improvements over Layer 1s and address both technical and practical challenges effectively.

Performance of a Layer 2 crypto portfolio

https://preview.redd.it/bxzw3cdzh9kd1.png?1130&format=png&auto=webp&s=1c9ad24bdeebb3c05d4614b8f555a460f9e47482

submitted by /u/Mr_Hodlerr
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