I'm trying to understand the meaning of L2 in the context of cryptocurrency. Could someone explain what L2 stands for and its significance in the crypto world?
6 answers
Martina
Fri Nov 08 2024
Layer 1 represents the foundational blockchain protocol.
Martino
Fri Nov 08 2024
These protocols are developed by third parties to enhance the functionality of Layer 1 blockchains.
Elena
Fri Nov 08 2024
Examples of Layer 1 blockchains include Bitcoin and Ethereum.
RubyGlider
Fri Nov 08 2024
These blockchains serve as the backbone for various decentralized applications.
CryptoPioneer
Fri Nov 08 2024
Layer 2, on the other hand, refers to secondary protocols.