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Layer 2 scaling solutions in Ethereum refer to techniques or protocols built on top of the main Ethereum blockchain that aim to increase its throughput and scalability without compromising decentralization or security.
ExamplesArbitrum, Optimism, Scroll, polygon.
Quote from: bitmover on March 13, 2024, 07:36:39 PMExamplesArbitrum, Optimism, Scroll, polygon. I'm pretty sure that polygon is not Ethereum layer 2 solution and its own coin outright. I used Polygon to pay for stuff when ETH's fee became very high.
What is Polygon?Simply put, Polygon is a Layer 2 scaling solution for Ethereum. It aims to provide faster and cheaper transactions for Ethereum through sidechains. A sidechain is a separate blockchain connected to the main blockchain (in this case, Ethereum) through a two-way peg. The peg facilitates the transfer of data and assets – between the main chain and the side chains – while maintaining the main chain's security and immutability.
Enter Polygon, which is a “Layer 2” scaling solution (or “sidechain”) that’s emerged to provide faster transactions and lower costs for users. It acts as a speedy parallel blockchain running alongside the main Ethereum blockchain.