Layer 2 Protocols Are Starting to Guzzle Ethereum Gas – BeInCrypto

Layer 2 Protocols Are Starting to Guzzle Ethereum Gas – BeInCrypto

The rise in popularity of Ethereum layer 2 scaling protocols has been clearly evident over the past month or so and one consequence of this is the amount of gas they are consuming.

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A new dashboard on Dune Analytics has revealed the extent to which layer 2 platforms are guzzling gas. The percentage of gas spent per day by L2 smart contracts has surged recently but is still very low when compared to the daily limit.

Ethereum has a daily gas limit of 100 billion in gas and just 0.18% of it is being used by L2s according to the stats collated by Ethereum client developer ‘@PaoloRebuffo.’

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Sept 12 saw the biggest spike in gas consumption and most of that was on the Arbitrum platform following the launch of an L2 yield farm called ArbiNYAN.  

L2 Gas Consumption – Dune Analytics

The surge in activity on Arbitrum has propelled its total value locked to a record $2.3 billion at the time of press. The platform did Source…