Layer 2

In this episode of Missing Links John, Brock and Stephen discuss Layer 2. What it is? And why it is needed in Web 3.0? And they also discuss what is the biggest issue with Ethereum right now?

Layer 1 is the main chain  or the infrastructure on which applications, networks and protocols are built upon. The primary characteristic of Layer 1 is the consensus mechanism.  Layer 2 is a derivative of Layer 1 where transaction rate can be controlled with its own consensus mechanism.

Scalability is the biggest problem with Ethereum right now. Ethereum is packed with transactions that cause congestion resulting in higher cost of transactions. Layer 2 provides a solution this problem. 

Listen as the guys talk about Layer 2 and the upcoming Ethereum 2.