Life beyond Ethereum: What layer-one blockchains are bringing to DeFi
Cointelegraph
Published Apr 14, 2021 11:55AM ET
Updated Apr 14, 2021 01:40PM ET
Issues with Ethereum congestion and high fees have led to many companies adopting layer-one solutions like Optimistic Rollups, OMG Network and many others. These platforms allow transactions to be created outside of the Ethereum network on what are known as “sidechains,” which then can be reconciled on the main Ethereum network in one simple transaction.
These layer-two options are gaining a lot of traction in anticipation of the release of Ethereum 2.0, which aims to solve the current high gas fees through sharding and splitting transactions throughout multiple blockchains.
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Written By: Cointelegraph
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