Naomi
@afrochicks
guys i have been in crypto for 3 years and things are still TOO complicated please let me test your products and give honest feedback on how to make it at least sound simpler cos i have an actual crypro use case which i know your products can solve but im tired of feeling stupid all the time here ๐ญ
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Naomi
@afrochicks
4. l2s i still dont really understand what an l2 is and why it matters that its an l2 and why so many launch all the time also dont get if youre meant to be loyal to chains and layers as a creator ive created on tiktok, instagram , youtube etc so why should i only create on one chain or layer ? just wondering if layers want loyalty or more users
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๐ถ๐๐๐๐ฉ๐
@toyboy.eth
L2s just scald cheaper gas fees in summary, transacting on ETH mainnet is quite expensive.
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links ๐ด
@links
L2s want your loyalty but in this cutthroat competitive environment they typically take short-term measures to get it (ie airdrops, grants) As a user there isnโt much reason to give your loyalty to a specific L2 right now, unless they have and act on the same values that you do. Work with the L2 that gets you the most as a user/creator.
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gFam.live (UrbanGladiator)
@gfam
To add to the comments already here. Blockchains like BTC and ETH can super high transaction fees for every transaction. An L2 basically collects and batches up a bunch of transactions and submits them as one transaction on the L1 chain (ie, ETH) and shares the gas fee amongst all the transactions - making it cheaper. L2s sometimes find themselves with a bunch of cash from their token sales, so they try to incentivize people to market their chain, but there's absolutely no need to be loyal to any single one. 9000 $HUNT
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kbc
@kbc
l2 want more users but most focus on more devs. Thinking is that devs create useful apps. And then people will come. Abstract might be for you. I donโt care about loyalty. But if I donโt have gas $ on a chain I canโt even get free stuff. Trying out Ctrl wallet as it has a cross-chain gas tank.
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AJ
@awedjob
LMK if you want help understanding this one. I used to create a short segment for X spaces called โQuick Tips with AJโ. I covered bridging from L1 to L2 networks/blockchains. @vitalik.eth recently posted something about blobs and I asked wtf those were. I got an answer that broke open my understanding of the different levels of blockchains.
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Fran
@0x99fran
What is an l2? It is a reseller of l1 blockspace. They take user transactions and compress them so they can fit more of them into an l1 block. This makes the average fee per transaction much lower than submitting directly to the l1. Why be on an l2? (1) vs the l1 it is cheaper with minimal loss in security depending on the way the l2 is built (2) vs an alternative l1 you can usually get better security as alot of alt l1s arent particularly secure or robust (can check https://l2beat.com/scaling/summary for risks) Are you meant to be loyal? Its more that since each l2 can be somewhat customized. They have different โvibesโ some have alot of defi, some are more for games, some are art focused. They can also choose to prioritize or make cheaper certain transactions to encourage that activity. Usually you just end up using an l2 more than another due to this.
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