Perhaps you are not thinking as big as you should be.
According to L2Beat, there are more than 100 satellite blockchains that orbit the Ethereum mainnet.
Kraken will launch another network, Ink. It plans to use it on Optimism Superchain. The Superchain will have 24 fully participating networks.
L2s generally process transactions offchain — where it’s much cheaper — and periodically transmute them to Ethereum for proper settlement.
Developers can build applications that would otherwise be difficult to manage if running on Ethereum. The gas fee for trading tokens in Ethereum is $5.48, whereas the OP mainnet only costs $0.18.
The Superchain, a meta network designed to improve the cohesion of Ethereum’s ecosystem. Optimism Labs has a standardized stack of tech that can be used by developers to customise their blockchains.
Superchain networks — operating alongside Optimism’s own layer-2 — agree to share the fees they generate, either 2.5% of chain revenue or 15% of onchain profit, whichever is higher.
It would benefit the other two dozen Superchain users if Kraken made a huge splash by releasing Ink.
Since the mainnet launch of OP in July 2021, users have spent $180,000,000 in ETH valued at daily rate.
Superchain received almost 38% more than its lifetime total after Dencun, despite the fact that Ethereum’s Blobs reduced L2 fees in March.
It is Base that has a large role to play in this. Coinbase’s layer-2 — with which Kraken’s Ink will ultimately compete — is currently bringing over 80% of all OP Superchain fees right now, or between $620,000 and $1.23 million per week in October, with transaction counts and profitability at record highs.
Blockworks Research’s data shows that Uniswap and other trading bots such as Banana Gun, along with memecoin launchers, are the main contributors to Base gas spending.
Kraken’s intentions to weaken Base’s hold on the Ethereum memecoin space are irrelevant, even though it might come with bragging right. Uniswap Labs plans to launch Unichain next month as its Superchain. This could be a major snag in the works.
However, it says something about the direction we’re heading: A blockchain is for every business, app, community, game. The blockspace will attract them.
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