đ Hi, Iâm đđ, this is the popular science series of #BlockchainDevelopmentHistory, this issueâs content: L2 (Layer2).
L2 (Layer2) is Ethereum's expansion solution. It is like an independent blockchain that shares Ethereum's workload while inheriting its security. L1 (Layer1) is responsible for core security and data, while L2 handles more transactions to make the system faster and smoother.
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1. Learn more about L2 (Layer 2)
Layer2 is an innovative technology to solve the scalability problem of blockchain. On a blockchain network, as the number of transactions increases, the processing speed may become slow. Layer2 technology improves performance and efficiency by establishing an additional processing layer outside the main chain.
The core functions of blockchain include execution, data availability, and consensus. Execution refers to the ability of a blockchain to process transactions, such as transfers or the execution of smart contracts. Just like a supermarket cashier processes a customer's purchase, the higher the number of transactions per second a blockchain can process, the better its execution capability. Improving execution capabilities is critical to ensuring that blockchains remain efficient even when there are high transaction volumes.
Data availability means that all blockchain nodes need to store transaction and status data. Similar to a distributed database, each node stores all transaction records and status information. This data storage method ensures the information integrity and security of the system, allowing each participant to verify and reconstruct the network status.
The consensus mechanism is the core of the blockchain, which ensures that all participants agree on the state of the network, including which transactions are valid and the order in which they are executed. The consensus process is similar to a voting system, where nodes vote to determine the validity of each transaction and ultimately reach a consensus across the entire network. Reaching consensus quickly is crucial to improving the overall efficiency of the blockchain system.
2. Advantages of L2 (Layer 2)
Layer2 significantly increases transaction speed while significantly reducing transaction fees. This increase in efficiency not only enables users to complete transactions faster, it also significantly reduces the cost burden when using cryptocurrencies.
By ensuring the finality and immutability of transactions on the mainnet, Layer2 enhances the stability and security of the user experience. This reliability allows the mainnet to focus more on decentralization, data availability, and overall network security, providing a solid foundation for the development of the entire cryptocurrency industry.
Different types of Layer2 have their own unique features. For example, Rollups technology packages multiple transactions into one mainnet transaction, inheriting the security of Ethereum, and is divided into two forms: optimistic rollup and zero-knowledge rollup, each with its own specific transaction processing and verification methods.
In addition, there are popular Layer2 types such as sidechains, state channels, plasma chains, etc. State channels, also known as payment channels, allow users to conduct fast off-chain transactions and later record the final data back to the main network.
3. The future of L2
With the advancement of Ethereum and other mainstream L1 blockchain solutions, L2 provides unprecedented transaction speed and cost-effectiveness, especially in the DeFi field. This not only promotes the development of a multi-chain environment, but also enhances the interoperability of blockchain networks.
However, achieving true decentralization is not easy. Although L2 protocols pursue decentralization in concept, actual deployment often involves centralized trade-offs, such as convenient custodial wallets and services. This complexity requires users to have a clear understanding of the degree of decentralization of each protocol, such as through in-depth research and decision-making through data provided by projects such as L2Beat.
In the future, industry collaboration and innovation will be key to driving the development of L2 solutions and DApps. This will not only help realize the vision of a decentralized economy, but also ensure the core principles of security, decentralization, and scalability.
4. L2 (Layer 2) Project Examples
Optimism
Optimism is a technical solution designed to address the scalability challenges of Ethereum, using the mechanism of Optimistic Rollup (optimistic sidechain). This approach significantly improves the efficiency and throughput of the Ethereum network by optimizing transaction data processing and significantly reducing transaction fees and delays.
Arbitrum (Another Optimistic Rollup Technology)
Arbitrum provides another technical solution based on Optimistic Rollup, providing developers with an efficient and low-cost smart contract platform. Arbitrum, which is compatible with Ethereum, makes the development and deployment of decentralized applications more convenient, bringing a new blockchain application experience to developers and users.
Polygon (formerly Matic Network)
Polygon, formerly known as Matic Network, is a versatile Ethereum sidechain solution. It supports multiple Ethereum scaling technologies, including Plasma and Optimistic Rollup. By reducing transaction costs and increasing transaction speeds, Polygon provides developers and users with a better blockchain interaction experience.
5. Tail
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