Layer 2
Evergreen- External reference: https://eawosika.hashnode.dev/what-is-layer-2-blockchain
- External reference: https://ethereum.org/en/developers/docs/layer-2-scaling/
- External reference: https://academy.binance.com/en/glossary/layer-2
- External reference: https://golucidity.com/layer-2-blockchain-technology/
- see,
Make transactions happen in a fast and less constrained layer called layer 2 and use the layer 1 to consolidate them. I naively assume that you lose a bit of partition tolerance in order to gain in availability (see the CAP theorem).
Layer 2 is a collective term for solutions designed to help scale your application by handling transactions off the main Ethereum chain (layer 1). Transaction speed suffers when the network is busy which can make the user experience poor for certain types of dapps. And as the network gets busier, gas prices increase as transaction senders aim to outbid each other. This can make using Ethereum very expensive.
Layer 2 refers to a secondary framework or protocol that is built on top of an existing blockchain system. The main goal of these protocols is to solve the transaction speed and scaling difficulties that are being faced by the major cryptocurrency networks.
Layer 2 is a secondary protocol designed to operate atop another blockchain network
designed to operate separately from Layer 1, the base layer in a blockchain.
Scale is the big issue, with root blockchains like Ethereum only able to process a paltry 15-20 transactions per second
Layer 2 blockchain technology is often referred to as an “off-chain” solution
Layer 2 platforms and protocols process data in a way that decreases the burden the base layer (root chain) usually bears. By offloading transactions from the main chain onto layer 2 platforms, the blockchain network can handle much higher transaction throughput
Layer 2 allows you to massively cut down data processing on the blockchain by running computations off-chain. The base chain will still be the ultimate judge (arbiter) when there are disputes (this is cryptoeconomics after all).