Hellow guys, Welcome to my website, and you are watching What is Layer 3 protocol? ( Layer 1 vs. Layer 2 vs. Layer 3 ). and this vIdeo is uploaded by Technology Trends at 2022-09-21T11:03:34-07:00. We are pramote this video only for entertainment and educational perpose only. So, I hop you like our website.
| Name | What is Layer 3 protocol? ( Layer 1 vs. Layer 2 vs. Layer 3 ) |
| Video Uploader | Video From Technology Trends |
| Upload Date | This Video Uploaded At 21-09-2022 18:03:34 |
| Video Discription | Layer 1 or The first layer of the protocol consists of the base blockchain that can process transactions. For example chains like Bitcoin, Ethereum and Cardano. The primary function of this layer is to ensure the security of the protocol with different consensus mechanisms, like proof of work and proof of stake. Layer 2 solutions focus more on hyper-scaling the blockchain network. As a blockchain grows, the number of transactions and load inside increases tremendously. Layer 2 solutions take this load and handle it, thus relieving the stress on the main blockchain. They are usually built on top of the existing layer 1 infrastructure to achieve increased transaction speeds or throughput. Some examples of Layer 2 chains are: Polygon, Arbitrum and Loopring. Layer 3 can be called the application layer of the blockchain protocol. Layer 3 will provide customized functionality. It may consist of different decentralised applications, API's, User interface, scripts and smart contracts. One of the main goals of a layer 3 solution would be to help in cross-domain operations. Will enable Interoperability to happen within the blockchain ecosystem very cheaply, without the need to go through the expensive layer 1. |
| Category | Science & Technology |
| Tags | Layer 3 protocol | Blockchain protocols |
