Hey friends, it's so lovely to paticipate in this week engagement challenge, I really love the topic and I must say I have learnt a lot from it. I hope you understand it as you go through the post.
A Layer 2 blockchain can be defined as a frameworks, or platform developed on top of a primary blockchain network also known as (Layer 1). This updates are done to upgrade the Blockchain scalability, speed, and and efficiencies, Layer 1 blockchains technology, like the oldest Blockchain technology Bitcoin and Ethereum, are known to experience slower transaction, slower data processing times, poorer consensus mechanism and even higher gas fees because it consumes more energy or power.
Layer 2 blockchain technology is more like an upgraded level 1 blockchain technology with the soul aim to solve these the slower or poorer functionalities of the Layer 1 blockchain technologies. This is done by increasing processing power of the chain, by reducing the workload of the level 1 blockchain technology.
They level 1 blockchain technology comes with powerful and efficient innovative features to activate faster transaction and less efficient transactions that makes the Blockchain faster in data processing and also help reduce Blockchain transaction fees to make the Blockchain assessable to both rich and poor individuals.
.png)
There are different types of Layer 2 blockchain technology and they are listed below 👇:
• Layer 2 Off-chain scaling technique:
These types of Layer 2 blockchain technology are seen in large Blockchain technologies like Bitcoin technology where there scalability issues due to its population in account and it's energy consumption.
In such blockchain there are usually off-chain payment software that helps carry out transactions easier and faster than normal, it helps lessen the workload of transaction on the Blockchain technology.
• Sidechains: These are independent blockchains technology in connection with a main blockchain technology. They help reduce the workload on the Blockchain by running transactions and even running smart contact that would help improve the Blockchain transactions and activities. For example "ROOTSTOCK" on of Bitcoin sidechain that also mine and run Bitcoin smart contact.
• Plasma ake Child Chain: It's a framework that are created in hierarchical tree structures of sidechains on a main blockchain, there are also known as child chain because there are small chain created to help solve scalability issues in large Blockchain with level 1 blockchain technology.
Layer 2 blockchain technology help makes transaction upgraded, it also help create cheaper gas or transaction fees, it helps improve and Blockchain scalability. By taking off a large workload of transactions or activities off the parent blockchain, Layer 2 technology remove the congestion on the Blockchain by permitting the blockchain to perform very important transaction with ease.
Difference between 1 Layer and 2 Layer Blockchain technology
| Layer 1 blockchain technology | Layer 2 blockchain technology |
|---|---|
| Slower processing speed | helps generate or process transaction faster |
| Usually has higher transaction fees or gas fees | It helps reduce the transaction fees on the Blockchain |
| Very much secured than level 2 blockchain | Averagely secured because it usually have connections with some third party software which could be loops holes |
| This is older and usually refered to as parent chain | They are quite newer and and are sometimes called child chain |
| Performs the core or vital activities or transaction | This is just an upgraded framework that helps improve it's efficiency and scalability issues. |
Layer 2 blockchain are Layer 1 upgrades technologies that are developed on an existing blockchains known Layer 1 blockchain technology to enhance its layer 1 blockchain scalability, layer 1 blockchain speed, and layer 1 blockchain work efficiency. The Layer 2 solutions aim upgrading The working limitations on Layer 1 blockchains.
• Lightning Network (Bitcoin):
The Lightning Network is one of the most famous and most used Layer 2 blockchain technology on Bitcoin Blockchain technology. It was created to help solve or reduce the scalability problem on Bitcoin Blockchain, due to the age and size Bitcoin have been facing so many scalability issues.
Lightning Network is an off-chain Blockchain payment system created by Bitcoin team to help improve Bitcoin scalability by reducing the workload concerning the channeling of payment on Bitcoin Blockchain. All thanks to lightning network user's can make efficient transactions more efficiently and faster and therefore reducing work load on Bitcoin Blockchain.
• Raiden Network (Ethereum):
Just like the Lightning Network off-chain Layer 2 blockchain a Bitcoin, The Raiden Network is a Layer 2 Ethereum Blockchain scaling solution created on Ethereum Blockchain technology, with the basic desire of making transaction more effectively and efficiently.
Radien is an off-chain payment software developed by Ethereum Blockchain technology, this software was developed to also help enhance the activities on Ethereum Blockchain by creating a platform for faster transaction speed, cheaper transaction fees, easier payment on Ethereum Blockchain. Radien was developed to reduce the workload of transactions in Ethereum main blockchain.
• Optimistic Rollups:
Optimistic Rollups is a Layer 2 scaling solution that gathers more than one transactions and then sending the multiple transaction as a single transaction into the Blockchain main or core Blockchain. All the multiple transactions are the verified using smart contact off the Arbitrum Blockchain to help reduce the complex work load on the Blockchain technology.
These transactions are verified off-chain, allowing user perform transactions faster, transaction gas fees faster, than the mother Blockchain technology.
• zkRollups:
Zero-Knowledge Rollups (zkRollups)is an off-chain Blockchain payment software that uses cryptographic skills to compress transaction data and information, so therefore reducing the size and quality of transaction data.
After this data is compressed, it's then forwarded to mother Blockchain to do the needful, this compressed data are now easily converted or worked on because only the valuable are sent to the mother Blockchain
Before I answer this question, I will first define what interoperability means. interoperability as the name implies is coined from two words inter and operation, any where we see the word inter we know it's talking about the connection between two different but relating entity. So therefore at first interoperability has to do with the connection between two or more device and how they communicate.
The second word operation has to do with the actions and what this two different software do and how they do their assigned mission, so therefore I would be writing on how to improve the connect between software and how it reduce transaction fees.
Layer 2 solutions serve as a crucial innovation in the blockchain ecosystem, offering effective means to reduce transaction fees and enhance interoperability between different blockchains. They introduce supplementary protocols and frameworks that work alongside the primary blockchain layer to improve efficiency, scalability, and communication across various networks.
• Off-chain payment systems:
These off-chain payment systems tends to help reduce transaction fees by creating alternative means of doing transactions on the Blockchain, so therefore reducing the workload and time in running and performing or processing transactions. When there is an off-chain system that permits alternative ways of running transactions like peer to peer trading then the transaction is charges would so therefore reduce to as low as possible when running payments.
Also this off-chain payment systems brought more influence of interoperability on Blockchain, because the stronger the interoperability the better the off-chain. So therefore interoperability and off-chain systems works hand in hand, it's because of the idea of off-chain systems that interoperability was made a matter of urgency.
• Batching Transactions:
As I had said some roll-up Layer 2 software like Optimistic Rollups and ZK-Rollups that joins multiple transactions and send them as one has a single transaction, would also reduce the transaction cost of the transaction. Because the system or main blockchain technology would read the transaction as one, so therefore it's supposed to charge the transaction as one transaction.
The supposed charge for one person would be shared among the multiple users , so therefore making it more cheaper for everyone when compared to the main blockchain technologies.
When it comes to how it affects interoperability on an Blockchain, it's obvious that this actions would never succeed if there were not interoperability between this two levels of Blockchain. All thanks to the effects of interoperability this combined transactions can easily be transferred from a side-chain or off-chain to the core Blockchain.
Steem is a smart Blockchain instead of creating channels like Bitcoin and Ethereum did, steemit uses a new and excellent technique that Is quite efficient than the off-chain and side-chain Blockchain. This technique is known as
"Adjust Bandwidth Technique".
• Adjust Bandwidth Technique":.
The Adjust Bandwidth Technique would automatically change In respect the type or size of congestion on the Blockchain, this is done to help to adjust the Blockchain without malfunction due to much workload. Steem Blockchain would reduce steem bandwidth size per size at the particular period of time, if the need arise steem would adjust the bandwidth to be able to accommodate more data and information from account no matter the size.
Every steemian bandwidth over a short period of time is usually watched, so that it won't happen as a sudden of surprise, you might be wondering how Bandwidth Technique work on steemit. When there is higher or average bandwidth, a user can run many processes at same time but when the bandwidth has been reduced you can run only few process over a short period of time.
• The Supreme LAMAX rules:
I call it the supreme rule because it's one of the core reason steem blockchain is very scalable, it's was copied from the famous LMAX Exchange, this exchange used some set if rule's that made it process over 60 million transaction per seconds. This set of rule therefore made steem one of the fastest Blockchain technology in the internet, because steemit process 10,000 transaction every seconds.
This set of rules are seen in the image below 👇
• Free transaction:
Steem team were really smart, instead of rewarding steemians for joining steem blockchain or referring people to join steemit. They team totally took away all charge's on Steem Blockchain so therefore making it free for all users.
They used the desired amount of money used to reward users, like most platform would call it referral bonus or sign up bonus to cover up any sort of transaction fees on steemit, more it's a social platform, So therefore it should be available to both the rich and poor individuals.
Integrating a Layer 2 solutions on steemit would really help upgrades the steem blockchain technology, so it would not be to bad if the team considers it, Layer 2 solutions would really help upgrades the steem blockchain by reducing the workload on the Blockchain. As time grows the steem blockchain technology users account would still be growing higher and faster, so therefore the Blockchain might still need assistance and helping hands when the growth becomes to much.
• Scalability
As the name implies scalability in Blockchain can be defined as the ability of a Blockchain to adjust in scale over a period in time, that's to say it's the ability to increase its scale and reduce its scale to enhance it's processing speed whenever the need arise.
Though-out my stay on steemit, I would say steemit is very scalable and efficient, though it still need some upgrades to avoid experiencing server failures as we had seen in the past, hopefully if there is a level 2 solutions on steemit we won't experience server failures again even during an upgrades.
• Costs
Also the upgrades of adding a layer 2 blockchain would also help reduce any cost faced on Steem Blockchain, despite the fact steem team made steemit cost free to steemians doesn't make steemit cost free to the management team. Therefore I believe layer 2 solutions would help the team minimize the cost of running the Blockchain technology.
• Ease Of Use For Users
Just as it's has been seen on Ethereum Blockchain, Bitcoin Blockchain and other Blockchain, Layer 2 solutions would drastically improve the user and software interface. Hopefully with the upgrades of adding of Layer 2 solutions Steem would become become a better user interactive Blockchain.
When I'm talking about the upgrades of user interface on steem blockchain, it also talk about the upgrades of it's security, it's also talk about how it carries out what it's expected to do and so many features are required when user interface are talked about.
A layer 2 solutions would really help advance all this aspect of the steem blockchain technology and therefore make things easier for both investors and users of steem blockchain technology over a long period of time.
Layer 2 solutions are known as upgrades on the Blockchain technology, it's the most important feature or upgrade any Blockchain technology can integrate and hopefully we are going to see on our lovely platform steemit.
I am inviting my friends @sahmie @sahar78 @artist1111 @steemdoctor1
Upvoted. Thank You for sending some of your rewards to @null. It will make Steem stronger.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks man
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Resaltas que las blockchains más antiguas como BTC y ETH al experimentar lentitud transaccional y de consenso así como alto costo de energía debido a la minería, se vieron en la necesidad de encontrar alternativas como la tecnología blockchain de Capa 2 para hacer que el sistema sea más eficiente y escalable sin sacrificar la seguridad y privacidad de los datos. Por lo tanto, se ha logrado que las dos blockchain trabajen juntas, siendo distintas y a la vez integradas una dentro de la otra, formando un equipo donde cada una ejecuta lo que mejor saben hacer.
Excelente contenido amigo, que contribuye al conocimento de un tema desconocido para muchos usuarios.
Saludos y éxitos.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Ok thanks very much friend, I am grateful
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi @starrchris
You have created the post very well and I always learn something every time I read your post because some points are so finely observed that it is really noticeable. And I appreciate this post
Layer 2 solutions parent blockchain ki scalability ko increase karne mein bahut aham kirdar Ada kar sakte hain aur yakinan yah iska bahut aham use case hai.
Layer 1 or layer 2 me main difference yahi hai ki layer 2 ka men focus blockchain ki security aur transparency per hota hai jab ke layer 2 ka men focus blockchain ki scale ability ko increase karne per hota hai.
Always be safe
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I really appreciate your comment, on my article.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for breaking down the complex world of Layer 2 blockchains! Your post is a clear and insightful guide for anyone wanting to understand the differences between Layer 1 and Layer 2 technologies. The real-world examples like Lightning Network and Raiden Network make it easy to grasp the practical applications.
I appreciate the effort you put into explaining how Layer 2 solutions reduce transaction fees and improve interoperability. Your breakdown of the implications of integrating Layer 2 on the Steem blockchain is particularly interesting. Best wishes for success in the contest!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yeah layer 2 is a lovely platform that would help Steem Blockchain, thanks for going through.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Your post has been successfully curated by @𝐢𝐫𝐚𝐰𝐚𝐧𝐝𝐞𝐝𝐲 at 45%.
Thanks for setting your post to 25% for @null.
We invite you to continue publishing quality content. In this way you could have the option of being selected in the weekly Top of our curation team.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks boss @𝐢𝐫𝐚𝐰𝐚𝐧𝐝𝐞𝐝𝐲
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hello friend,
Just like always, your explanation on this topic is very great. Layer 2 Blockchain solutions can be very beneficial for the existing blockchains as it improves the scalability of the parent chain and also help in communication with other chains.
We can never ignore the possible benefits thay the Steem blockchain will get if the layer 2 solutions is implemented on the parent chain Graphene. You have given solid points over it.
Thank you, good luck man 👍
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for sharing such quality comment bro
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Greeting friend ,
Thank you for sharing a detailed breakdown of Layer 2 blockchain solutions and their potential integration with the Steem blockchain.
Your insights on scalability, costs, and ease of use were enlightening.
Success in the contest .
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit