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    OP: Benchmarking Analysis vs Layer 2 Chains

    Competition is rising among Ethereum's layer 2 solutions. In this analysis, you will be able to examine the competition between the top 3 names under several headings.

    Introduction to Layer-2 Solutions
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    Introduction

    Ethereum Layer-2 solutions are off-chain or sidechain protocols designed to enhance the throughput and efficiency of the Ethereum blockchain. These solutions help reduce the network congestion and high gas fees on the Ethereum blockchain, which has been a major challenge in recent times.

    Optimism is one of the most popular Layer-2 scaling solutions for Ethereum. Optimism leverages off-chain computation to increase Ethereum's scalability, while still ensuring security and trustlessness. With Optimism, users can execute transactions with lower fees and faster confirmation times compared to the Ethereum mainnet.

    About Analysis

    In terms of benchmarking potential, Optimism has demonstrated its capability to handle a high volume of transactions per second (TPS) at a lower cost compared to the Ethereum mainnet. Transactions on the Optimism network are significantly cheaper compared to the Ethereum mainnet, which makes it a more attractive option for users who want to save on gas fees.

    More useful and efficient than Ethereum, did Optimism manage to be a better layer-2 than its other competitors, Polygon and Arbitrum? In this analysis, we will try to answer the question.

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