Steemit Crypto Academy Contest / S13W5 - Layer 2 Blockchain
Hello world!
I bring you warmest greetings from my part of the world, thank you all for your amazing time to visit and read from my blog. I 2ant to appreciate the steemit team and the entire steemit blog for such an initiative of the engagement challenge which keeps steemians to read and engage with another. A bog thanks to this community too it has not been easy but with God, all things are possible so friends,keep reading down as I shae on the Layers 2 Blockchain.
I want to give a quick meaning of blockchqin before I move further and I think it will be best described than 3xplaines or defined Lets look at human body skin or animals body skin, it has layers and for that reason it makes the skin looks 2ondersful by it looks because the outer layer is that 2hich will tell the whole world how smooth it is but we must also know that there are layers before the 9uter layer of skin we are seeing right now.
So, block chain also have layers. Now, let's know what is this layer 2 and the differences between layer 1 abd layer 2
A layer simply means a cover, which means that there is something inside that has been covered by what is called an outer part which is the layer. We have somany example of layers and sone of them are; the Ozone that has layers that protects the solar radiaion from the sun.
We want to know the different types of layers we have, i mean the types of layers in blockchains .
The blockchain layer technology can be seen as a n information in blocks that brings together the informations that the would help grow the blockchain. And below are the layers we have. We have payers of blockchain upto a number of 3 but we will be discussing on just layer 1 and layer 2
- Layer 1
- Layer 2
- layer 3
Layer 1
Layer 1 can also referred to as the protocol layer.
Layer 1 is the very origin and beginning part of the blockchain. Which means that, it is the base and first layer when it comes to infirmation in blockckain and the original layers of the blockchains helps to secure and keep save every information of the blockchain and one of the layer is algrithms.
Now, coins like Bitcoin which is the father of all, Ethereum, Solana, Cardano and the rest, cam be seen as the examples of layer 1 blockchain. Thesehelps to keep neat records of every transactions into the mains blockchain, it makes sure every infirmation is very safe recorded and stored but there is a limitation to the ability of transaction which can make everything very high when when it comes to the demand of such in high rate.
Layer 2
This particular layer 2 can as well be called the application layer. I have given exampl3of the skin layer, I have said earlier that tye layer 1 which is the protocol layer is the very origin of the layers. Now,layer 2 is the exact point whereby, bith tgeusersif blockchain and the developers communicate through diverse applications which is decentralized.
These layer 2 as well gives somany solutions which helps in the transaction processes from the origin of the blockchain inorder to reduce the huge load on the origin. One of the aim of these layers is to work tirelessly in hardwork to make the blockchain more functional, further more, I will like to point out the differences between the two layers which is the layer 1 and layer 2.
Layer 1
Layer 1 have a tendency of scalability which means it has alimited number of work for a particular time or period but it again tries to increase the rate of the transactions inorder to allow a very fast transaction process.
There is a number of cost between the participants therefore, makes the transaction process to run very fast and also cheap inorder to handle a big or large transaction volume yo avoid over loading
Layer 1 is seen to be very secured reason because it have a very hard protocol, it has strong functions and mechanisms that helps to protect the blockchain network.
In layer 1 blockchain, it operates on decentralized blockchain without involving centralized body authority. Again, some feed are required there fore, would make users pay for usage and it is very high in cost because of the limited ability.
Layer 2
Layer 2 has somany solutions and it includes the followng
- Lightning Network
- Raiden Network
- State Channels
- Sidechains
- Raiden Network
This network falls under the later 2 solution and it is specially made fir the coin Ethereum which operates as that of the lightening network. Raiden network helps users to make channels of payment transactions which will help in the scalability of layer 1 solution
- Lightning Network
This falls under layer 2 solution and specially for Bitcoin. Which helps to run a very fast transaction in a cheaper rate and helps to make payment off the blockchain. It gives users guarantee of having channels of payment between other users and it helps to minimise the rate of fees to its users.
With the lightening network, creation of channels of payment are made inorder mot to wait for a go ahead command.
- State Channels
This helps in the transaction conduct of multiple transaction on the absence of the blockchain but the result always come back to the settlement of blockchain which has eased the rate of transaction congestion in the blockchain.
- Sidechains
In this later solution, it is a very different blockchain that runs and gives room for a very fast transaction process and they have their machanisms rules, in this way, assets can be transferred from the source to another.
How does layer 2 help reduce transaction fees on a blockchain and facilitate interoperability between different blockchains?
From the first hint, where we were asked to give the differences between layers 1 and 2, I already gave a brief report on how layer 2 brings about less transaction fees, so how does layer 2 achieve this? Here is how.
This layer 2 solution helps in the reduction of fees from the transactions made by it's users by transferring away transaction from the main blockchain layer so as to allow users carry out multiple transactions.
It also helps to ease the congested transactions, whereby, transaction fees become less and affordable and helps users to have shortcuts inorder to have multiple transactions.
What would be the implications of integrating a layer 2 solution on the STEEM blockchain in terms of scalability, costs, and ease of use for users?
The implication of layer 2 solution on steem blockchain is that, it will bring joy to the Steem blockchain especially in the diverse portions of having scalability, a very high cost and a very easy transaction between users.
The layer 2 solution helps in the blockchain scalability which will inturn helps to work on the transaction 2orkload from the main sources of the blockchain and to also allow a very huge and spaced field for transactions to be carried out. Which simply means that there will be opened space for interaction.
Layer 2 also helps so much in the aspect of high cost, it honestly reduces the cost of transactions on the Stem blockchain because alot of worklaod are been wiped out for a better space granting users space for an easy transaction.
In conclusion,
These layers if blockchain can be summarised as being the blocks of building or raising trchnology one at a step untill it grows to a desired level. From the above explanation, the layer 1us the origin, foundation, base while the layer 2 are the execution of transaction, conduction of smart contracts and the rest.
I want to sincerely appreciate you all for reading through my post, and at this moment, I want to warmly invite the following users to show their participation too.
@starrchris
@yancar
@suboohi
@yakspeace
Thanks and I love you all...
TEAM 1
Congratulations! This post has been upvoted through steemcurator04. We support quality posts , good comments anywhere and any tags.Thank you very much @radjasalman for your support and I will keep doing great
Sorry, I had to withdraw support for using GPT
Upvoted. Thank You for sending some of your rewards to @null. It will make Steem stronger.
Good morning dear,
Layer 2 solutions can be used to improve the Scalability of any blockchain as most of the transactions from the main chain are transferred to the layer 2 chain and hence the load is lowered from the main chain which can help in increasing the stability.
You are right that the main focus of the layer 1 blockchain is on improving the security, integrity, decentralization, and transparency of the chain while layer 2 focuses on increasing the TPS.
Good luck ahead with this appropriate entry
Thank you very much friend, I am so overwhelmed by your comment on my post indeed the the main focus of the layer 1 blockchain is on improving the security, integrity, decentralization and I wish you best dear.
Saludos hermosa amiga dave-hanny, muchas gracias por la mención en tu participación.
Las Blockchain de capa 2 estan diseñadas a partir de los problemas de las de capa 1, estas son sobre o en paralelo, asi es la manera que trabajan juntas.
Éxitos.
Thank you too for honouring my invitation and im honoured too, thanks for more light on the above contest topic and I wish you well as we keep steeming.
You have tried your best to share some of the important differences you have described in your best way that we can after that you are distinguish in all the questions in the best possible way which reflects your good knowledge and understanding regarding this topic.I wish good luck to you in this engagement challenge
It's heartbreaking to know that some piece of your post is not your own. As professor proved it, and with a simple read users can also understand this. I am sorry.
cc @radjasalman