L2 & L1 Adoption and User Behavior Utilizing Onchain Data - Sid Shekhar (Coinbase) - TOKEN2049
Explore the dynamics of blockchain adoption and user behavior with Coinbase's Sid Shekhar at TOKEN2049 in this insightful presentation, "L2 & L1 Adoption and User Behavior Utilizing Onchain Data." Sid, who leads Coinbase's blockchain research team, delves into the evolving landscape of Layer 1 (L1) blockchains such as Solana, Terra, and Avalanche, alongside Ethereum Layer 2 (L2) scaling solutions like Arbitrum and Optimism.
Through on-chain data analysis, the team tracks significant trends in how decentralized applications (dApps) are migrating from Ethereum to these alternative layers, driven by cost-effective transactions and unique blockchain functionalities. Key metrics such as Total Value Locked (TVL) reveal adoption patterns, with a notable surge fueled by on-chain bridges facilitating seamless asset transfers without relying on centralized exchanges.
Sid highlights user migration pathways from centralized exchanges and the crucial role of on-chain bridges, explaining their impact on user engagement and ecosystem growth. He emphasizes the importance of unique applications that leverage native blockchain capabilities for future mainstream adoption, while discussing current challenges like cross-chain liquidity and collateral management.
Join Sid as he presents fascinating insights and robust data, unraveling the complexities of blockchain ecosystems and user interactions. Stay informed on these critical developments by liking, commenting, and subscribing for more knowledge-packed sessions.
