CoinMarketCap’s Most Innovative Project: L1, L2, and Cross-Chain nominees explores the technological advancements reshaping blockchain's scalability, security, and interoperability. Whether through foundational Layer 1 blockchains, performance-enhancing Layer 2 solutions, or crypto ecosystem-connecting cross-chain technologies. VOTE NOW: https://coinmarketcap.com/events/cmc-...

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CoinMarketCap’s nominees for most Innovative Project: L1, L2 and Cross-chain are Arbitrum, Axelar, ZKSync, Celestia and Aptos. Which Project do you think was the most innovative Layer-1, Layer-2 or Cross-chain protocol?

The crypto world is like a brand new city, constantly building, innovating and evolving for its growing population. This award celebrates the builders of valuable new infrastructure, Layer-1s, Layer 2s and cross-chain protocols. That makes crypto easier, more efficient and more accessible for all. Here are our nominees for ‘CMC’s Most Innovative Project of the Year: L1/L2/Cross-chain’

Our first nominee is Arbitrum, a Layer 2 scaling solution for the Ethereum blockchain.
It’s taken the crypto world by storm and seen massive adoption. Arbitrum has already saved users fees worth 1.5m Eth, with over 650 thousand active wallets, over $7billion total value locked and over 55% of the total L2 market share. Arbitrum’s tech stack contains 3 key utilities. Arbitrum Rollups, which uses Optimistic Rollups to scale decentralised apps with a fraction of the fees, yet still maintaining Ethereum's security. Arbitrum Orbit, a ready to build ‘interconnected universe of customisable chains’ And Finally Arbitrum AnyTrust, a ready made chain that caters for gaming, socials and NFTs who require high volume, low transaction fees.

Our next nominee is Axelar…a scalable cross-chain communication platform
‘secure, scalable, universal connectivity, Axelar enables users to interact with any asset, any application on any chain, with one click’. Axelar has already connected with over 50 chains, completed over $6billion dollars of transactions and has over 70 validators. In addition to providing fast bridging solutions for crypto projects, Axelar has also made good progress connecting with large TradFi institutions, partnering with one of the world’s biggest banks, J.P. Morgan.

Our third nominee is ZKSync , the team behind ZKSync Era and ZKStark a Layer-2 scaling solution for the Ethereum blockchain. Now it’s time to get a bit nerdy, so strap in. ZKSync is a general purpose ZK Roll-Up platform that aims to increase Ethereum’s throughput. Unlike Optimistic rollups, where all transactions are valid until proven invalid, ZK rollups require validity proof for individual transactions. This means that though they’re more complex, which is why they have less market adoption than optimistic rollups, they’re also more secure.

Our next nominee is Celestia, representing the transition from “monolithic” blockchain to the new generation of “modular” blockchain. Celestia is a minimal blockchain that strategically partitions the consensus and execution layers…it only orders and publishes transactions but does not execute them, this is done by a separate chain. By doing this it modularizes the blockchain technology stack and allows developers to overcome computational bottlenecks, making it more efficient, scalable and unlocking new possibilities for dApp builders.

Our final nominee is Layer 1 blockchain Aptos. Launched in 2023, Aptos is one of the newer generation L1s that use the ‘Move’ programming language. The Aptos blockchain relies on parallel execution to handle multiple transactions at once, meaning that theoretically, it could handle a massive 160,000 transactions per second. With a vast network of top VCs, a strong community, cheap transactions and a high level of security, this Layer 1 could potentially soon challenge Solana and Ethereum.

Now it’s YOUR turn… cast your vote now. You can click on the link below or simply head to coinmarketcap.com. Do it before voting closes.

RW: CMC Crypto Awards is an independent initiative to recognise and acknowledge outstanding achievements in the crypto industry. The use of any third-party trademarks, brand names, or logos does not imply any endorsement or association with CMC. All intellectual property rights related to the mentioned brands are the property of their respective owners. CMC disclaims any intention to infringe upon or violate these rights.

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Chapters:
00:00 - Most Innovative Project: L1/L2/Cross-chain
00:26 - Arbitrum
01:30 - Axelar
02:30 - ZKSync
03:30 - Celestia
04:22 - Aptos
05:09 - VOTE NOW