What comes to your mind when you think of top layer 2 projects?
Let me guess.
MATIC, Optimism, maybe even Arbitrum.
But what about the lesser known projects that maybe aren't as popular
but still have 10X to 20X potential?
Don't snooze on this one.
It's time to wake up a few of my sleeper picks.
Let's get it!
Welcome to BitBoy Crypto!
My name is Ben.
In this video, we're going to take a look into my top three under the radar layer 2 projects
to watch for the next bull run.
Full disclosure, this is not a sponsored video and we currently do not own any of these coins yet.
Before we dive into this list, some of you might be thinking,
"What is a layer 2?"
Quick explanation for this is imagine a layer 1 blockchain as a library.
Problem is everyone is at the library and the line to check out a book is too long to wait.
Layer 2 blockchain is basically a shortcut to the front of the line
to help avoid congestion and saves everybody time.
Of course, it's more complicated than that,
but just because we're not all computer scientists doesn't mean we can't benefit from the idea.
In today's day and age,
it's really tough to not talk about NFTs when talking about crypto.
That's exactly why it's hard
to not talk about Immutable X whenever you're having this conversation.
Immutable X is an Ethereum layer 2 scaling solution
that focuses specifically on NFT and gaming.
Best known for creating the popular NFT trading card game Gods Unchained,
this project is reinventing the wheel on how the world will view Web3 and gaming.
See, normal transactions on a blockchain don't make sense in a gaming setting
where you need to quickly trade and be on the move.
That's why Immutable X uses zero-knowledge rollups,
aka ZK rollups,
to make this all possible.
In fact, Immutable X is Ethereum's first ZK rollup specifically for NFTs,
and, of course, it's compatible with the EVM, aka the Ethereum Virtual Machine.
This enhances the gamers' experience by giving them lightning fast speeds
around 9,000 transactions per second.
Oh, and by the way, the gas fees, well, they're non-existent.
That goes for trading and minting.
The Immutable marketplace is another facet of this conversation.
And this is where they offer users all their games you can jump in right now.
If you scroll through their catalogue,
you'll see they've come a long way from the release of Gods Unchained back in 2018.
With recent partnership with Polygon,
gamers can expect a new wave of triple-A blockchain games on the horizon.
Also, their all-in-one Immutable passport coming this month,
similar to an Xbox gamertag,
will make it much easier for gaming studios to quickly onboard gamers into Web3.
As always, though, do your own research, but it won't take much research for you to see
that the team over at Immutable X was building during the bear market,
and with their SDKs,
they're making it easy for programmers to build on their infrastructure as well.
With the IMX token at the current price point of just over $1,
I wouldn't be surprised to see this token pass its previous all-time high of $9.52
in the years to come.
Be sure to put this one on your whiteboard if you're a trader.
And if you're a gamer,
what are you doing?
Don't sit on the sidelines.
Get in the game.
If you want to level up your crypto game,
be sure to become a member of the BitSquad
by liking this video, subscribing to the channel and hitting that notification bell.
For those of you that have been a fan of the channel for quite some time,
I'm sure you've heard of this project before,
Cartesi.
Cartesi defines themselves as an application-specific rollup execution layer with a Linux runtime.
Some of you might not understand what that means,
but for you that do,
you realize how bold of a statement that is.
Basically they're saying that they're a layer 2 rollup
that execute as fast as Android smartphone.
That's no joke.
Essentially, Cartesi is an Ethereum layer 2,
and their goal is to bridge the gap between centralized and decentralized systems.
Think of it like coding smart contracts accepting more familiar languages
that more programmers would know, hence breaking down the barrier for entry.
Not only will this make it easier for developers to bring
traditional software applications to the blockchain,
using their Descartes SDKs,
they'll be able to create dApps that wouldn't be possible on Ethereum alone.
This opens up the door for new possibilities,
which is why Cartesi has recently announced a new community-driven program
to fund developers to build on their ecosystem.
Their ecosystem is already quite large,
considering their partnerships with MATIC, Arweave, Chainlink, BSC and Avalanche,
but I'm sure helping new developers chase their dreams is only helping their end goal.
With a current price point of 15¢ and an all-time high of $1.74,
the prospect of a 1,000% gain, well, sounds pretty good to me,
as long as Cartesi keeps building like they have over the past several years.
If you think that's not possible,
just remember this is a coin that pumped over 3,700% in the first 130 days of 2021.
For that fact alone,
Cartesi has been on my watchlist for years.
For my third and final pick on layer 2s,
although there are a plethora of other great projects out there,
it wouldn't feel right if I didn't mention SKALE.
You have to understand,
to me, even though this project is outside of the top 200 by market cap,
what separates SKALE from the others is its creativity.
The way SKALE approaches being layer 2 is far different from everyone else.
That creativity is going to be what takes it higher than its current market cap
of only $192 million.
SKALE defines itself as a network of interconnected blockchains
built to bring speed and security to a universe of UX-friendly Web3 apps.
Instead of running a scaling solution like optimistic or ZK rollups,
SKALE uses a unique elastic sidechain architecture that sets it apart from all the others.
With the combination of the elastic sidechain, dynamic shards and the Web3 cloud,
no wonder Dartmouth College's blockchain study ring SKALE
as the No. 1 in the world for fastest transaction per second and time of finality.
In this day and age of instant gratification,
people will always go with whatever is fastest and most convenient.
And to outperform Solana, Fantom and all the others in a legitimate college study,
that's no joke.
Not only that,
SKALE is the fastest EVM solution for blockchain games
and that comes complete with on-chain file storage,
free cross-chain transfers, free NFT minting and zero gas fees.
They save their users over $650 million in gas fees.
Just because they're fast,
does that mean people use it?
The last 180 days,
they have over 305,000 users.
When more people catch on to this lightning fast chain,
it's only going to get better from there.
Craziest part to me is that this project is currently priced at merely 4¢
with an all-time high of $1.22,
a 2,800% gain to get back to that price point.
That sounds good to me.
Since they're so fast than everything else,
I wonder how fast SKALE can get there.
Definitely excited to see this one and how it performs in the next bull run.
Well, there you go.
Those are my top three secret layer 2 picks.
And as all three these projects are unique in their own way,
they all share a common goal of making blockchain more efficient, scalable, faster and user-friendly.
What's your favorite layer 2 crypto project?
Let us know down below in the comments.
That's all I got.
Be blessed.
BitBoy out.