opening to blockchains

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4 Jan 2024
8


Hello Bulbapp Community,
In the context of blockchain technology, the term "Layer 2" refers to second-layer protocols built on top of the blockchain. The foundational blockchain (Layer 1) typically represents the main network where cryptocurrencies like Bitcoin are transacted and provides the fundamental security model of the blockchain.
"Layer 2" solutions are additional protocols added on top of the blockchain, aiming to enhance transaction speed, reduce costs, or introduce different features. These layers leverage the underlying security model of the blockchain but strive to create a more scalable system by increasing transaction speed.
For instance, Ethereum's Layer 2 solutions are designed to address scalability issues. Protocols like zk-rollups, optimistic rollups, and state channels are examples of different Layer 2 solutions. These layers enable faster and more cost-effective transactions on top of the blockchain, contributing to scalability improvements.
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