Layer 2 solutions will be created: As the landscape of cryptocurrencies re -defined
In recent years, the world of cryptocurrency has recorded a significant change in the direction of scalable and more effective solutions. One such innovation that takes on the momentum are the solutions of layer 2 (L2) that revolutionize the way we think about cryptocurrencies like polygons (half). In this article, we will explore the influence of L2 solutions on the amount of multitude market, examining what these innovations mean for the cryptocurrency industry.
What are the solutions of layer 2?
Layer 2 solutions are a set of technology that allow for faster and cheaper transactions in blockchain networks. Unlike the mainnet, which is the main chain responsible for data storage, layer 1 (L1) transactions require a significant computer power to perform, leading to high fees and a slow transaction time.
Layer 2 Solutions, such as a polygon optimism platform, use mechanisms of processing transactions outside the chain and a puperication to reduce gas fees and improve transaction speed. Enabling users to create temporary “books” transactions that can be stored in L1 chain during peak hours, layers of layer 2 allow you to use network resources more effectively.
How are the solutions of the layer 2 affect the polygon?
The polygon optimism platform was at the forefront of layer 2 innovation, offering several key features that contributed to the significant market growth. Here are some ways in which L2 solutions on the polygon affect the amount of markets:
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- Increased scalability : Layer 2 solutions allow you to optimism up to 4 million transactions per second, compared to 1-3 million mainnets. This increased capacity has led to a higher market volume and a larger party.
- Enhanced user experience : Faster transaction time and lower fees resulted in a smooth experience of users on Polygon, encouraging more users to get involved in the platform.
- Increased safety : delaying transactions from the main bridge, optimism reduces the load on the web, which makes it less sensitive to attacks and increase general security.
Many market quantities
Polygon market capitalization has increased significantly from the very beginning in 2017. According to Coinmarketcap data, the market capitalization of the polygon reached $ 1 billion in February 2022, compared to about $ 150 million at the time of the December 2020 census.
Similarly, the amount of optimism transactions also recorded a significant increase. In June 2022. Optimism processed over 3.5 million transactions per day, which is a significant increase compared to the initial monthly average of about 200,000 transactions.
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Layer 2 solutions revolutionize the world of crypto currency, providing users more effective and more scalable solutions. In the training ground, these innovations have led to a significant increase in market, increased amount of transactions and better user experience. As layer 2 solutions are increased, we can expect even more reduction in transactions fees, faster performance time and increased scalability.
Further reading
- “Poligon Optimism Platform: Future Blockchain Transaction”
- “Layers of Solution 2: How the Landscape of cryptocurrency changes”
- “The capitalization of the polygon exceeds $ 1 billion”
