Cryptocurrency
‘Layer 2’ Blockchain Tech Is an Even Bigger Deal Than You Think via @coindesk
As reported by Coindesk, “Welcome to the ‘Layer 2’ era. “We are now entering an exciting new phase of blockchain development in which the lightning network and other programming solutions that operate ‘on top’ of existing blockchains promise big strides in scalability, interoperability and functionality. “There is still much work to be done. The early […]
As reported by Coindesk, “Welcome to the ‘Layer 2’ era.
“We are now entering an exciting new phase of blockchain development in which the lightning network and other programming solutions that operate ‘on top’ of existing blockchains promise big strides in scalability, interoperability and functionality.
“There is still much work to be done. The early tech is buggy, and new security and trust solutions must be figured out when much of the computing activity in individual transactions or smart contracts is taken ‘off chain.’
“But in mitigating the heavy, multi-party computation that blockchains carry while ensuring that transaction histories are at some point anchored by ‘on-chain’ consensus algorithms, there’s something of a best-of-both-worlds promise in these ideas.”