Layer 2

The cryptocurrencies listed in this section are associated with Layer 2 blockchain scaling solutions. Layer 1, or base blockchains, like Bitcoin and Ethereum, are optimized for maximum security and decentralization, sometimes to the detriment of speed or performance.

By moving transactions to layers above the base chain, Layer 2 protocols reduce demand for block space, making transactions faster and cheaper. Subsequently, fees for using the base layer drop, extending the network's utility to more users. Efforts like rollups on Ethereum and the Bitcoin Lightning Network are examples of Layer 2 crypto projects.

Many Layer 2 blockchain scaling solutions have their own native crypto assets, a number of which are available to trade on OKX. These assets provide incentives to holders participating in consensus mechanisms or other network functions.

All

Crypto	Price	24h change	Market cap	Action
MATIC Polygon	-- --	--	--	Trade\|Convert
ARB Arbitrum	-- --	--	--	Trade\|Convert
OP Optimism	-- --	--	--	Trade\|Convert
IMX Immutable X	-- --	--	--	Trade\|Convert
SNX Synthetix	-- --	--	--	Trade\|Convert
LRC Loopring	-- --	--	--	Trade\|Convert
ZRX 0x	-- --	--	--	Trade\|Convert
CELR Celer Network	-- --	--	--	Trade\|Convert
OMG OMG Network	-- --	--	--	Trade\|Convert
METIS Metis Token	-- --	--	--	Trade\|Convert
PERP Perpetual Protocol	-- --	--	--	Trade\|Convert
ZKS ZKSwap	-- --	--	--	Trade\|Convert

FAQ

What is a Layer 2 blockchain?
Layer 2 is a collective term used to describe a specific group of blockchain scaling solutions that reduce congestion on a Layer 1 blockchain while inheriting its base layer security. A Layer 2 blockchain reduces demand for block space by transferring transactions to the layers above the base layer, making them faster and cheaper. This reduces the cost of using the underlying blockchain and radiates its network applications to more users.
What is the difference between Layer 1 and Layer 2 blockchains?
While Layer 1 blockchains form the base blockchain in the main architecture, Layer 2 blockchains are secondary blockchains integrated on top of an existing blockchain network. Layer 1 focuses on security and decentralization while Layer 2 ensures the execution of low-cost, fast transactions by inheriting Layer 1's base layer security that is optimized for speed and high throughput.
Why do Layer 2 blockchains matter?
Layer 2 blockchains have been gaining popularity due to their promise of improved scalability, efficiency, cheaper transaction costs, and a reduced carbon footprint. This is in contrast to Layer 1 blockchains, which tend to be slower and more expensive to use because they prioritize decentralization and security over cost-efficiency.
What are the best Layer 2 cryptos to buy?
With their promise to improve scalability and efficiency, Layer 2 blockchains are becoming increasingly popular. Application-specific Layer 2s are optimized for specific application spaces. Popular examples include PERP, SNX, LRC, and IMX. Generalized Layer 2s on the other hand are applications deployed as Layer 2 instead of being optimized for a specific app. They behave like Ethereum but are cheaper. Examples include Optimism, Boba Network, and Arbitrum 1. Check out the full list above.
Where can I buy Layer 2 cryptos?
Easily buy popular Layer 2 cryptos on OKX with cryptocurrencies such as BTC, ETH, USDT, USDC, and USDK, as well as with fiat currencies such as USD, GBP, EUR, INR, and over 30 others.