I have no idea what this means lol
Layer 1 is the base blockchain like ETH BTC
Layer 2 are like side chains (a real Layer 2 is lil more complex than a side chain but for simplicity sake) secured on ethereum, a zkRollup is a type of Layer 2 that queues transactions together
meaning you spilt the Gas with 100s of other people so instead of paying $30 of ETH you pay 15 cents
soon all Defi apps will move to Layer 2 and exchanges will start adding Layer 2 withdrawals
some Exchanges even pay part of the fee and new users think the Exchanges are taking the fee so it creates a bad user experience so the centralized exchanges have incentive to get this done as soon as possible
I have no idea what this means lol
All those companies / projects are investing in that L2 solution for ethereum
I'm 25
Layer 1 is the base blockchain like ETH BTC
Layer 2 are like side chains (a real Layer 2 is lil more complex than a side chain but for simplicity sake) secured on ethereum, a zkRollup is a type of Layer 2 that queues transactions together
meaning you spilt the Gas with 100s of other people so instead of paying $30 of ETH you pay 15 cents
soon all Defi apps will move to Layer 2 and exchanges will start adding Layer 2 withdrawals
some Exchanges even pay part of the fee and new users think the Exchanges are taking the fee so it creates a bad user experience so the centralized exchanges have incentive to get this done as soon as possible
oh okay. So swapping coins or developing on eth will be cheaper once everyone puts in a hand. Kind of a tax system for crypto to pay for the community?
oh okay. So swapping coins or developing on eth will be cheaper once everyone puts in a hand. Kind of a tax system for crypto to pay for the community?
the way I think of it is as an efficiency booster
the current issue with ETHs Layer 1 is that it has way too much traffic. every time you do anything you're fighting with tons of people trying to Farm, Swap, Stake, Govern etc
breaking the transactions up onto a couple different layers will off load some of the traffic it's more like expanding a freeway so it has more lanes meaning the prices on Layer 1 will now drop also cause people are using the network efficiently and everyone won't be stuck in traffic and overpaying gas
u got the sauce bro. but idk mayb ill ketchup 
wens ur bday
end of the month
late 20's approaching
yup im basically elderly now
https://www.coingecko.com/en/coins/unisocks
why did I invest in BTC
Socks>Stonks
why did I invest in BTC
Socks>Stonks
buy bancor tees
buy bancor tees
are they limited
why did I invest in BTC
Socks>Stonks
I've been asking myself this since $15k yet here I am, with cold naked feet
the way I think of it is as an efficiency booster
the current issue with ETHs Layer 1 is that it has way too much traffic. every time you do anything you're fighting with tons of people trying to Farm, Swap, Stake, Govern etc
breaking the transactions up onto a couple different layers will off load some of the traffic it's more like expanding a freeway so it has more lanes meaning the prices on Layer 1 will now drop also cause people are using the network efficiently and everyone won't be stuck in traffic and overpaying gas
So with the layers you can choose which one you're on depending on the transaction or process you're working with?