Ethereum Layer 2 (L2) solutions are protocols built on top of the Ethereum blockchain to improve its scalability and efficiency. They aim to handle transactions off the main Ethereum chain (Layer 1) while still benefiting from the security and decentralization of the main chain. Crypto experts VanECk predicted that Ethereum Layer 2s will grow to a combined valuation of $1 trillion by 2030.

Real Research surveyed the chances of that prediction coming true and these are the findings.

47.38% of respondents were completely aware of the concept of layer 2 Ethereum networks. 37.36% were vaguely aware of the Ethereum layer 2 network while 15.26% were completely unaware about this.

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Fig 1: Awareness of the respondents

61.50% of the respondents stated that they had used either Ethereum or Ethereum layer 2 networks while 38.50% stated that they hadn’t used any Ethereum layer 2 networks or Ethereum.

71.06% of respondents showed their willingness to invest in Ethereum, as it is predicted that by 2030, 60% of the market share across all public blockchains will be occupied by Ethereum. However, 28.94% of the respondents stated they would not invest in Ethereum.

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Fig 2: Respondents’ Willingness to Invest in Ethereum

When it comes to blockchain, scalability, security, and decentralization are the most important features. Real Research asked the respondents which feature was the most important among the three. 19.88% of respondents stated that decentralization was important, 26.70% stated that security was important, and 21.62% said scalability was the key feature. However, the majority, 31.80%, stated that all three are equally important. 

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Fig 3: Opinion on the most important feature of blockchain

According to Investment Management Company VanECK, Ethereum layer 2 networks may hit a $1 trillion market capitalization by 2030. Real Research asked, “Can Ethereum Layer 2s Reach a Trillion Dollar Valuation?” 70.02% of respondents stated “yes,” while 29.98% stated “no.”

If Ethereum layer 2s hit $1 trillion, 73.14% think that ETH, Ethereum’s native currency, could also appreciate. 26.86% of respondents think that ETH will not appreciate.

Methodology

 
Survey TitleSurvey on Ethereum Layer 2S Reaching A Trillion-Dollar Valuation
DurationApril 8 – April 12, 2024
Number of Participants5,000
DemographicsMales and females, aged 21 to 99
Participating Countries Afghanistan, Algeria, Angola, Argentina, Armenia, Australia, Azerbaijan, Bahrain, Bangladesh, Belarus, Benin, Bolivia,… Brazil, Brunei, Bulgaria, Burkina Faso, Cambodia, Cameroon, Canada, Chile, China, China (Hong Kong) China (Macao), China (Taiwan), Colombia, Costa Rica, Croatia, Czech Republic, Ecuador, Egypt, El Salvador, Ethiopia, Finland, France, Gambia, Georgia, Germany, Ghana, Greece, Greanada, Guatemala, Honduras, Hungary, India, Indonesia, Iraq, Ireland, Israel, Italy, Ivory Coast, Japan, Jordan, Kenya, Kuwait, Kyrgyzstan, Latvia, Lebanon, Libya, Lithuania, Malaysia, Maldives, Maluritania, Mexico, Moldova, Mongolia, Morocco, Mozambique, Myanmar [Burma], Namibia, Nepal, Nicaragua, Nigeria, Oman, Pakistan, Palestine, Panama, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Serbia, Sierra Leone, Singapore, Slovakia, South Africa, South Korea, Spain, Sri Lanka, Tanzania, Thailand, Togo, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Venezuela, Vietnam, Yemen, Zimbabwe.