Layer-1 blockchains are foundational networks supporting varied purposes instantly on their protocol, whereas Layer-2 blockchains function atop these foundational layers, enhancing scalability and effectivity. Evaluating the utilization and effectivity of EVM-compatible L1 and L2 blockchains and aspect chains helps us higher perceive the market values and the place many of the DeFi exercise comes from.
Dune Analytics knowledge analyzed by crypto-news confirmed Polygon, a Layer-2 sidechain, was the main determine within the DeFi ecosystem, intently adopted by BNB Chain, an EVM-compatible Layer-1 blockchain.
Probably the most essential metrics when analyzing L1s and L2s is the day by day gasoline utilization—the computational effort required to execute operations on the blockchain. Fuel charges are paid in native blockchain currencies, and excessive gasoline utilization usually signifies strong community exercise. Notably, when L2 options keep excessive gasoline utilization at low USD prices, it displays an environment friendly scaling resolution that makes transactions reasonably priced with out sacrificing blockchain exercise.
Polygon makes use of a median of 579.97 billion models of native gasoline day by day, with related prices amounting to only $65.48k. This interprets to a meager common of $0.76 in USD per second regardless of processing a excessive quantity of 48.37 transactions per second. Every transaction on Polygon prices about 138,782 gasoline models. BNB Mainnet, whereas additionally excessive in transaction quantity, exhibits a special price construction with 454.89 billion models of native gasoline used day by day and $1.02 million in day by day USD charges; the fee per second soars to $11.81, far surpassing Polygon’s. The upper price per transaction, which averages 108,513 gasoline models, displays BNB’s heavier computational demand per transaction, suggesting a extra resource-intensive operation than Polygon.
| Chain | Avg Native Fuel Used / Day | Avg USD Fuel Charges / Day | Avg # Txs / Day | Avg Native Fuel per Tx | Avg Native Fuel Used / Second | Avg USD Fuel Charges / Second | Avg # Txs / Second |
|---|---|---|---|---|---|---|---|
| Polygon Mainnet | 579.97b | $65.48k | 4.18m | 138,782 | 6.71m | $0.76 | 48.37 |
| BNB Mainnet | 454.89b | $1.02m | 4.06m | 108,513 | 5.26m | $11.81 | 47.03 |
| Arbitrum One | 273.96b | $250.05k | 1.14m | 241,207 | 3.17m | $2.89 | 13.15 |
| Base Mainnet | 222.37b | $378.72k | 1.26m | 174,229 | 2.57m | $4.38 | 14.59 |
| OP Mainnet | 213.30b | $160.26k | 490.83k | 429,129 | 2.47m | $1.85 | 5.68 |
| Gnosis Mainnet | 109.77b | $1.05k | 182.58k | 601,244 | 1.27m | $0.01 | 2.11 |
| Ethereum Mainnet | 108.14b | $12.63m | 1.19m | 90,758 | 1.25m | $146.20 | 13.79 |
| Fantom Mainnet | 94.86b | $4.89k | 248.93k | 372,521 | 1.10m | $0.06 | 2.88 |
Arbitrum makes use of 273.96 billion models of gasoline day by day, costing customers $250.05k, which breaks all the way down to $2.89 per second and 241,207 gasoline models per transaction, indicating a better price effectivity than BNB however much less so than Polygon. Base Mainnet information related traits with 222.37 billion models and day by day charges of $378.72k, leading to a barely increased per-second price of $4.38 and 174,229 models per transaction.
Ethereum operates with the very best price influence, utilizing 108.14 billion gasoline models day by day, translating right into a hefty $12.63 million in charges. With prices skyrocketing to $146.20 per second, regardless of having a median of 90,758 gasoline models per transaction, it illustrates Ethereum’s strong safety and computational breadth and highlights its scalability challenges that L2 networks purpose to handle.
Taking a look at transaction metrics, knowledge from April 23 exhibits that Polygon led with 4.02 million transactions, adopted by BNB Chain with 3.9 million. These figures present sturdy person engagement and community utility, representing a respective 25.8% and 25.1% share of complete transactions (excluding recognized system transactions).
Nonetheless, when analyzing transaction charges, a special narrative emerges. Regardless of a decrease transaction rely, Ethereum amassed $7.46 million in charges, representing a staggering 83.9% of complete charges collected. This discrepancy means that whereas Ethereum processes fewer transactions, its increased transaction prices replicate its major layer standing and the intensive computational sources required for operations.
In the case of DeFi apps, Polygon once more leads the transaction numbers, with 3.3 million app transactions, exhibiting it’s a go-to platform for DeFi actions.
BNB Chain noticed 1.22 million transacting addresses, with Polygon barely behind at 1.18 million. These figures, contrasted with Ethereum’s 402.77k, recommend that different EVM-compatible networks have gotten most popular platforms for normal DeFi customers attributable to their decrease price constructions.
Analyzing the efficiency of those blockchains side-by-side exhibits a battle between foundational safety and enhanced scalability. Whereas L1 blockchains like Ethereum proceed to safe high-value transactions with substantial charges, scaling options like Polygon seize the majority of day by day transactions and utility interactions, signifying a shift in direction of extra environment friendly and user-friendly blockchain infrastructures in DeFi.
It’s essential to notice that regardless of being labeled as a Layer-2 blockchain by many, Polygon operates as an L2 sidechain for Ethereum, because it depends by itself set of validators and doesn’t depend upon Ethereum for safety. This permits Polygon to help extra experimental exercise than “true” L2 blockchains with out impacting Ethereum. One other reality value mentioning is that BNB Chain is an EVM-compatible Layer-1 blockchain however has positioned itself in the marketplace not as a competitor to Ethereum, one other L1, however to different L2s.
