Hello My Steemain Friends ,

Dear friends, I am @aviral123 from India. How are you all, I hope you all are well. I am fine too . Today I am sharing my post with you in this community. Earlier I shared information about "Challenges for companies in the crypto security market" with you in my post . Hope you all will like my post. Today I will share with you " What are Layer 2 blockchains". I want to share my thoughts about this with you all. let's start

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Layer 2 defines secondary protocols related to a blockchain that are built on the basis of the blockchain system. The main objective of these protocols is to solve the problems that arise in cryptocurrency networks such as transaction speed and scaling.

The scalability trilemma is a persistent problem in blockchain. Which has continuously troubled blockchain developers since the launch of the Bitcoin blockchain in 2009. To overcome this problem, a variety of solutions have been implemented such as block size, sophisticated mining hardware consensus mechanisms, etc.

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Layer 2 has emerged as the most progressive solution in enabling blockchain to scale without compromising on decentralization. We can also understand this on the basis of some important facts

• Layer 2 sits on top as a solution on top of a Layer 1 blockchain like Bitcoin or Ethereum. Layer 2 reduces costs and increases speed on the blockchain.

• Layer 2 is available to address the scalability challenges of L1 networks.

Layer 2 scaling solutions can take lots of different forms, including payment channels, state channels, sidechains, and rollups.

• Layer 2 compromises security and decentralization to achieve speed, which can make depositing more funds risky.

When withdrawals are processed from L2 to the Ethereum mainnet. Then sometimes it takes from hours to 6 to 7 days for this reduction to be seen.

The most popular layer 2 networks are as follows:

Polygon
Arbitrum,
Looping
Optimism

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Conclusion

Thus we learned how Layer 2 works to mitigate blockchain scalability issues. Out of which some Layer 2 networks have become quite popular. Which people like to adopt as a solution where the risk is less. The most recent and secure data on the state of the L2 network is relayed on a more decentralized and secure blockchain.

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