Celo, Ink Partners With L2BEAT For Blockchain Analytics To Boost Web3 Scalability On Layer-2 Networks

L2BEAT, a decentralized platform that provides real-time analytics to blockchain Layer-2 scaling solutions, today announced a strategic partnership with several Web3 projects, including Celo, an Ethereum Layer-2 platform designed to make DeFi applications accessible to all, and Ink, a Layer-2 network built on Optimism’s Superchain and developed/owned by Kraken crypto exchange.

According to the announcement made today on the X platform, this collaboration enabled Celo and Ink to launch their respective Layer-2 networks on L2BEAT’s interoperability infrastructure to meet scaling demands for their L2 platforms.

L2BEAT Provides Real-Time Analytics For Layer-2 Networks

As the Blockchain world continues to advance, cost and speed (scalability) challenges remain a major concern among Layer-1 networks such as Ethereum, Bitcoin, and several other chains, hindering their mainstream adoption. Layer-2 networks emerged as innovative solutions to address such concerns, designed to hasten processing speed and decrease transaction costs. However, as the number of users and transactions on these L2 platforms rises, so does the strain on their chains, leading to scalability concerns such as decentralization, network congestion, and security.

To address such issues, Celo and Ink integrated L2BEAT’s analytics technology, which offers Layer-2 networks with a comprehensive data solution to manage on-chain complexities. L2BEAT, a widely recognized analytics and research platform, focuses on serving the needs of Layer-2 scaling networks.

Using its advanced analytics platform that offers insights into the rapidly growing Layer-2 scaling platforms, L2BEAT provides a comprehensive overview of different L2 chains, such as Ethereum, Polygon, Immutable X, Arbitrum, Optimism, and many others. Its platform tracks major metrics like active addresses, transaction volume, TVL (total value locked), etc., enabling L2 chains to evaluate their performance and gain a deep understanding of their Layer-2 networks.

Making Layer2-Network Applications Usable At Scale

As the adoption of Layer-2 networks grows, the discussion has shifted from ‘how fast and how affordable they are’ to ‘how secure and decentralized they are.’ L2BEAT offers real-time data for various L2 networks, enabling such platforms and even users to assess the overall health of each network.

This shift is healthy. While rapid processing speed and cheap transaction fees are important, customers have become more cautious about network security, proof systems, and upgrade safety.

By launching their L2 networks on L2BEAT’s interop dashboard, Celo and B now access L2BEAT’s advanced blockchain analytics, empowering their Layer-2 chains to expand their scalability and operations, and as a result, help establish themselves as leaders in the Layer-2 market ecosystem.