CryptoElite
Sun Dec 22 2024
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6 answers
1638
What is the first layer 2 blockchain?
The first layer 2 blockchain is a secondary framework or protocol built on top of an existing blockchain system, such as Ethereum or Bitcoin, to improve the speed, scalability, or introduce new functionalities to the network. It operates independently but relies on the security of the underlying blockchain. Examples of layer 2 solutions include state channels, sidechains, and rollups.
