Layer 1 & Layer 2 Crypto .. What Does that Mean and Which Crypto is Layer 1 & 2?

Today we discuss the definitions of a Layer 1 and Layer 2 crypto. We also show you how to find the cryptos in these categories.

Crypto Layer 1: This is the base layer of a blockchain architecture. Layer 1 refers to the underlying main blockchain architecture. Examples include blockchains like Bitcoin, Ethereum, and Binance Smart Chain. These platforms are fundamental because they are the main network where transactions are settled and recorded. Improvements in Layer 1 often involve changes to the protocol itself to enhance scalability, security, and speed.

Crypto Layer 2: These are protocols built on top of a Layer 1 blockchain to enhance its scalability and efficiency. Layer 2 solutions help to manage transactions off the main blockchain (Layer 1) through various mechanisms such as state channels, sidechains, or rollups. This layer is crucial for reducing the burden on the base layer, allowing for faster and cheaper transactions. Examples include Lightning Network for Bitcoin and Optimistic and ZK Rollups for Ethereum.

_________________________________________

Crypto Purchasing
➤ Coinbase : https://hackyourcreditcards.com/coinbase
➤ Crypto.com : https://hackyourcreditcards.com/crcom
➤ BitUnix (has most coins) : https://hackyourcreditcards.com/bitunix

Crypto IRAs
➤ iTrustCapital : https://hackyourcreditcards.com/itrustcapital
➤ Bitcoin IRA : https://hackyourcreditcards.com/bitcoinira
➤ BitIRA : https://hackyourcreditcards.com/bitira

Brokerages (Stocks)
➤ Interactive Brokers : https://hackyourcreditcards.com/ibkr
➤ Fidelity : https://hackyourcreditcards.com/fidelity

Gold & Silver
➤ Vaulted : https://hackyourcreditcards.com/vaulted

Stock & Crypto Charting
➤ Trading View : https://hackyourcreditcards.com/tradingview

__________
DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you. Always do your own research. This video content is intended only for informational, educational, and entertainment purposes. Brian Longest is not a registered financial advisor. Your use of his YouTube channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, YouTub and E-Mail) for communications with Brian does not establish a formal business relationship.