What can be said about layer 2 scaling solution?

Layer 2 scaling solution is an innovation that turns out to be the key to more efficient scalability of blockchain networks. The need for such a solution results from the growing popularity of decentralised applications and cryptocurrencies, whose base layer may have various limitations. Sometimes these are high transaction fees and slow processing. That is why layer 2 scaling was created, to improve the user experience. What are the benefits of using this solution?

• Layer 2 scaling solution—faster processing transaction
• Increased security of multiple transactions

Layer 2 scaling solution—faster processing transaction

One of the benefits of using a layer 2 scaling solution is to transfer some operations from the main chain to layer 2. In this way, ready and compressed data is sent to the main blockchain, thus relieving its work and shortening the time of the entire process. Transactions processed off chain reduce the need for space in layer 1, which also means lower transaction costs.

Moreover, multiple transactions can be handled simultaneously, which facilitates effective transaction processing and business scaling.

Layer 2 solutions by 10Clouds are a great option for all companies planning faster and cheaper transactions and blockchain scalability.

Increased security of multiple transactions

When offloading transaction processing, data security and network security are very important. All of this innovative blockchain technology is based on the use of layer 2 consensus mechanismus layer 1. In this way, the risk of manipulation and errors during transactions is significantly reduced. Then the transaction data is stored in encrypted form, and only ready mathematical proofs are sent to layer 1.

Privacy should also be addressed. Such a layer 2 scaling solutions for Ethereum and blockchains enable multiple transactions and at the same time secure their data, which does not have to be disclosed on the blockchain. Only both parties to the transaction see this data.

This multi-faceted solution has many other benefits that enable fast and secure business scaling, such as open source integration, using layers of different blockchain technologies, ensuring interoperability, smart contracts, state management, and securing the main chain with efficient Layer 1 and Layer 2 integration.

It is therefore worth considering opening up to new technologies, increasing throughput and processing power, and thus increasing competitiveness and improving users satisfaction with the solutions offered to them.