How do layer 1 and layer 2 solutions contribute to the scalability of cryptocurrencies?
Sleepy TuiDec 01, 2020 · 5 years ago1 answers
Can you explain how layer 1 and layer 2 solutions help improve the scalability of cryptocurrencies?
1 answers
- Suyog PatilNov 07, 2020 · 5 years agoLayer 1 solutions are like the foundation of a building, providing the necessary infrastructure for cryptocurrencies. They improve scalability by making the base layer more efficient and capable of handling a larger number of transactions. Layer 2 solutions, on the other hand, are like additional floors added on top of the foundation. They allow for faster and cheaper transactions by moving some of the workload off-chain. This combination of layer 1 and layer 2 solutions is essential for the scalability of cryptocurrencies.
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