The tech quizz | 11 March 2024|
Hope all friends are well then I am going to start a new contest within my same steam for blogger community this is a new contest we need to know something about crypto. Now let me introduce you to these things. After answering some questions, you will know these things.
What are Layer 2 chains in crypto?
A crypto layer 2 chain is a chain that reduces the load on our network, meaning things like Ethereum or Bitcoin are used within it and its main purpose is to It gives us maximum convenience as when we do any kind of transaction, the load on the main blockchain is minimal. , then it does not disturb our main website or the block chain, the load on it is minimal and we get the transaction.
Which is your favourite one?
What I like most about cryptocurrency is the layer 2 chain. It's a very good system in crypto because it doesn't have any kind of transaction problem. The way we're working, we don't get any kind of burden on it because it's a transaction that we can easily transact and it's a one-off transaction like we have bitcoin or ethereum in it. So we mostly like it because it doesn't give us any kind of trouble.
Pros and cons of Layer 2 chains.
Pros:-
First of all, if we talk about its advantage, it makes our transaction easy, our transaction does not face any kind of problem.
Fast and smooth transaction.
In this, we get a lot of benefits as the cryptocurrencies are cryptographic.
There will be reduce the fees.
Cons:-
This may expose us to many risks as it all depends on the type of transaction we are conducting etc. This may make the transaction more difficult.
Also there are many things that we can face like the network flow which can slow it down or trap the transaction or there are many things that we can face like the transaction This can make the transaction very difficult and if our funds go, we will have to cover a huge loss.
Because it acts as a liquidity, if it doesn't, we can face a lot of problems because we have to facilitate transactions, if there is no liquidity between it, our network will slow down and Our transaction may end.
I'll invite my freinds to participate in this contest
@jamshaidw2
@nomanqureshi
@numanbhutta
Upvoted. Thank You for sending some of your rewards to @null. It will make Steem stronger.
Hello dear your explanation of Layer 2 chains in crypto is clear and concise. I appreciate your choice of a favorite and the pros and cons section providing a balanced view. Your invitation to friends enhances community participation. Well done Good luck in the contest..
Thanks dear
Greeting to you brother. Good to see your post , You wonderfully explain everything. Best of luck for contest 🌻