Tag: economic models of layer 2 solutions

Evolving Blockchain: A Deep Dive into Layer 2 Scaling Solutions

Blockchain technology has taken the world by storm with its promise of decentralized, transparent, and secure transactions. However, as blockchain networks like Bitcoin and Ethereum gained popularity, they also revealed their inherent scalability limitations. As transaction volumes surged, slow processing times and high fees during network congestion became glaring issues. This paved the way for the development of Layer 2 solutions (L2S), a revolutionary concept that seeks to address these challenges and unlock the full potential of blockchain technology and decentralization.