Layer 2

Definition:

Layer 2 is the secondary framework built on top of an existing blockchain. Its main goal is to solve transaction speed and scaling difficulties that Layer 1 blockchains encounter. The Ethereum Layer 2 makes transaction heavy activities like DeFi yield farming, minting NFTs and gaming cheaper and more accessible.

Degen Chat

“@vitalik saved Ethereum by adding a Layer 2 to the ETH blockchain. “