Cryptocurrency Q&A
What is an example of L2 crypto?
What is an example of L2 crypto?
SarahWilliams
Sat Nov 09 2024
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6 answers
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An example of L2 crypto is a blockchain network built on top of an existing L1 blockchain, such as Ethereum. It utilizes the security of the L1 chain while providing scalability and efficiency improvements. Specific instances include Optimistic Rollups and ZK Rollups, which are types of L2 solutions that enable faster and cheaper transactions compared to the underlying L1 chain.
6 answers
Carolina
Mon Nov 11 2024
Layer 2 technologies are known as sub-blockchains or software upgrades.
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Eleonora
Mon Nov 11 2024
These technologies leverage the infrastructure of Layer 1 blockchains.
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IncheonBlues
Mon Nov 11 2024
By doing so, Layer 2 solutions enhance scalability and efficiency.
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CryptoVisionary
Sun Nov 10 2024
They are designed to address the limitations of Layer 1 blockchains.
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LightWaveMystic
Sun Nov 10 2024
Ethereum, a popular blockchain, has adopted Layer 2 technologies.
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