2021-11-18 07:46:44
Layer 2 solutions and what does that really mean to the Crypto industry?This is just an over-simplified explanation of layer 2 and roll ups.
Imagine Your friend is texting you. That's fine. But when he sends you 100,000 individual texts per minute, each only containing one sentence, that is annoying and overwhelming.
This is what using Ethereum layer 1 is like right now.
Thousands of tiny transactions all fighting for attention. It takes awhile to sort through all these texts one-by-one, let alone read them (process the transaction).
But what if your friend just sent you the same amount of texts, but just in one big text at the end of every day. It is still a lot, but it is all there and much less overwhelming.
This is layer 2 and roll ups.
It rolls up many transactions into one big transaction, which is easier for the network to process and thus reducing cost and increasing how many transactions can be processed per second.
I had to say when I read this my mind was blown away about the meaning of layer 2 and it's existence. Hope this helps to anyone who still doesn't know like me what a layer 2 is and how it helps the Ethereum network.
@CryptoGold_News
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