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John Smit
@johnsmit
What Are Layer 2 Solutions and How Do They Improve Blockchain? Layer 2 solutions are secondary protocols built on top of the main blockchain (Layer 1) to improve speed and scalability. By processing transactions off-chain, these solutions reduce congestion and lower transaction costs. A great example is the Lightning Network for Bitcoin, which enables fast, low-fee transactions without overloading the main network. Key Benefits: Faster transactions: Off-chain transactions allow near-instant processing. Lower fees: Reduced network congestion leads to significantly lower transaction costs. Enhanced scalability: Layer 2 solutions help blockchain networks handle more transactions without slowing down. Layer 2 solutions are key to the future of blockchain, making it more efficient and accessible for everyday use.
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Nadia Pe
@chayna
So interesting, thank you! 999 $DEGEN
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