Ethereum Layer-2 Network Scroll Crosses $1B in TVL

Scroll, an Ethereum Layer 2 network has now crossed a significant milestone of over $1 billion in total value locked (TVL) on its platform. According to data from L2beat, the network achieved this through a notable 22.28% surge in the last seven days. 

With this latest breakthrough, Scroll has positioned itself as the eighth Ethereum Layer2 network with a TVL of more than $1 billion.

What is Scroll?

Founded in 2021, Scroll is a security-focused, Layer 2 network built on Ethereum. It aims to offer users and deve­lopers an experie­nce similar to Ethereum while­ reducing fees, incre­asing speed, and achieving unlimite­d scalability.

The layer 2 network uses advanced zero-knowledge proof technology, Ethereum Virtual Machine (EVM) compatibility and scaling design to make the network more accessible, responsive, and able to support more users than Ethereum alone. 

Scroll’s zkEVM employs a technically intricate, bytecode-level integration, utilizing the same code as Ethereum applications, which allows developers to easily integrate their applications into the Layer 2 network without requiring extensive modifications and with reduced cost.

Scroll Crosses $1B TVL

The latest milestone comes as the network experienced a notable surge of 22.8% in the last seven days. According to data from Layer 2 analytics platform L2Beat, Scroll TVL currently stands at $1.03 billion, making it the eighth largest Ethereum Layer2 by TVL. This surge reflects the growing confidence and interest in the network.

Furthermore, Scroll’s recent increase in TVL comes weeks after the network crossed $800 million following the launch of its airdrop points program, dubbed Scroll Sessions, on June 21.

It’s worth noting that of Scroll’s latest increase milestone, ETH accounts for an 87.17% growth in TVL, stablecoins for 11.22%, and others for 1.61%. 

Meanwhile, directly below Scroll is Starknet with a TVL of $732.30  million which represents a 12.70% increase. Arbitrum One and Base topped the list with a TVL of $16.85  billion and $6.90  billion respectively. Other Ethereum platforms higher than Scroll include OP Mainnet, Blast, Mantle and Linea.