Layer 2 Blockchain Scaling Solutions | Resolving Scalability Issues
Blockchain solutions development has changed various industries by providing decentralization of money, high levels of security, and irreversible record-keeping. Decentralization refers to the meaningful distribution of processing power and consensus throughout a network, while security refers to a blockchain protocol’s protection against bad actors and network assaults. Layer 2 refers to a supplemental framework or protocol built on top of an existing blockchain system. The fundamental goal of these protocols is to address the transaction speed and scale difficulties that plague the major cryptocurrency networks. Layer 2 Scaling is essential because it is the only way for blockchain networks to compete on an equal footing with older, centralized systems. Read more.