Decentralized chains predominantly need two things – Security and scalability. Those are requirements that are almost industry clichés now. But, they are also aspects that have accelerated growth in the crypto-ecosystem after the birth of the first-born cryptocurrency – Bitcoin. Owing to limitations like congestion on Layer 1 chains, Layers 2 and 3 functionalities quickly … Read more
Soundwise Founder Natasha Che recently compared Layer 1 chains to “new nation-states” on a Twitter thread. In the context of this novel idea, she explained that it’s like smart contract users can “hold multiple passports without having to give up the old one.” Curiously, investment Strategist Raoul Pal seemed to agree with her. He commented, … Read more
Due to increased adoption, general bullish sentiment in the crypto space and DeFi, transactional activity is at its highest average levels ever. Hence, the popularity of layer 2 solutions due to cheaper, faster characteristics led to the rise of projects such as Polygon. However, irrespective of L2 solutions, L1 networks of Bitcoin, Ethereum continue to … Read more
