The scalability problem within blockchain has seen the rise of layer 2 solutions that seek to solve a variety of scalability issues that exist within layer 1 blockchain platforms today. Take the payments area as an example, today it’s clear that if decentralized blockchain platforms are to compete against their centralized peers like Visa and PayPal, they need to work on increasing the number of transactions per second (TPS) they can handle.
Layer 2 solutions exist on top of blockchains and aim to solve a variety of scalability issues, including scaling smart contracts, payments, and off-chain computation. The idea is to move the most significant load of work off-chain, guaranteeing security through the use of permissionless blockchain as anchors.
In this piece, we are going to take a look at four top layer 2 blockchain solutions for dApps in 2020.
Easily scalable and allowing instant blockchain transactions, Matic Network has brought massive scalability to Ethereum by using an adapted version of Plasma with PoS…