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Layer 1 Blockchain

Layer 1 Blockchain

Layer 1 Blockchain. 

In fact, if you think logically, you should understand that if there is 1, it is probably because there are two or more.

Therefore, we will consider the concept of layer 1 Blockchain together with the concept of layer 2.

Layer 1 Blockchain is the term that’s used to describe the underlying main blockchain architecture. 

Layer 2, is an overlaying network that lies on top of the underlying blockchain. 

For Example: 

NEM recently announced a partnership with StakeHound. The essence of the partnership is that XEM holders have the opportunity to participate in the DeFi ecosystem of Ethereum. To do this, StakeHound has created a layer - 2 solution that allows you to transfer your XEM to the Ethereum blockchain, receiving native ERC20 tokens called StakedXEM in return.

In this example, Ethereum is the layer-1 blockchain, while the StakedXEM is layer-2. 

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Author: Raptor2799
Published on: 30/10/2020 19:00 (edited on: 04/11/2020 02:19)
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