Scaling Ethereum: Layer 2s Race For Supremacy
Layer 2 solutions are revolutionizing the blockchain landscape, offering a potent antidote to the scalability woes that have plagued the industry since its inception. Imagine a superhighway built atop a congested city street, enabling transactions to zip through efficiently and cheaply. That's essentially what Layer 2 technology aims to achieve for blockchain networks. This post will delve into the intricacies of Layer 2, exploring its mechanisms, benefits, different approaches, and the significant role it plays in the future of blockchain adoption.
What is Layer 2?
Understanding Blockchain Layers
To grasp the concept of Layer 2, it's crucial to first understand the foundational structure of blockchains. Layer 1 refers to the base blockchain itself, such as Bitcoin or Ethereum. It's the be...