Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Technical Discussion => Topic started by: zarazyana on March 13, 2024, 10:43:16 AM
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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.
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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.
There are many. You can read about them here
https://vitalik.eth.limo/general/2023/10/31/l2types.html
Examples
Arbitrum, Optimism, Scroll, polygon.
Each type has a different security degree according to this table
(https://vitalik.eth.limo/images/l2types/4d.png)
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Examples
Arbitrum, 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.
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Examples
Arbitrum, 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.
It is a layer 2, or side chain, of ethereum.
Take a look here.
https://www.coingecko.com/learn/polygon-vs-ethereum
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.
Also
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.
https://www.coinbase.com/learn/crypto-basics/what-is-polygon#:~:text=Enter%20Polygon%2C%20which%20is%20a%20%E2%80%9CLayer%202%E2%80%9D%20scaling,parallel%20blockchain%20running%20alongside%20the%20main%20Ethereum%20blockchain.
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^ My technical side of knowledge is not that good but I'm pretty sure polygon is sidechain and not a layer 2, and these two words are not interchangeable.
Layer 2s finalize transactions on Ethereum, as in case of Optimism/Arbitrum whereas sidechain settles transactions on their own chain and have very little to do with Ethereum L1 as in case of Polygon, BNB and Avalanche chain, sidechain also have their own consensus mechanism, and have their own coin to pay for fees.
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^ My technical side of knowledge is not that good but I'm pretty sure polygon is sidechain and not a layer 2, and these two words are not interchangeable.
Layer 2s finalize transactions on Ethereum, as in case of Optimism/Arbitrum whereas sidechain settles transactions on their own chain and have very little to do with Ethereum L1 as in case of Polygon, BNB and Avalanche chain, sidechain also have their own consensus mechanism, and have their own coin to pay for fees.
I confess that I have little knowledge about ethereum l2 and sidechain solutions as well.
There is a good article here where vitalik explains the different types if l2 solutions
https://vitalik.eth.limo/general/2023/10/31/l2types.html
Hw also considers mentions Polygon as a sidechain in the article
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Well, I believe that BASE is the one to be a great solver for the ETH scaling solutions knowing that a big company like Coinbase is behind it and many people are using Coinbase to buy and sell their crypto. With their new release of the smart wallet, I think many people would be more exposed to cryptocurrencies.
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Well, I believe that BASE is the one to be a great solver for the ETH scaling solutions knowing that a big company like Coinbase is behind it and many people are using Coinbase to buy and sell their crypto. With their new release of the smart wallet, I think many people would be more exposed to cryptocurrencies.
Hmm, the base has the crazy hype, and stats these days, I can agree with you that the Base ecosystem is going to show maximum potential as the top successor of the ETH layer 2 solutions. The base is good but I can see some already developed top ecosystems as well such as Polygon, OP, and Airbitrum. Some of the ecosystems are still opening their eyes in this cycle like ZK, Linea, Mode, and many others.
Meme coins on the base are one of the reasons for this crazy wave. At the same time on every new chain, people enter for farming airdrop on that chain.
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^ Base, Mode are using Optimism stack, so I don't consider them to be a competitor of Optimism layer 2, more like something that strengthens Optimism.