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In this article, we are going to tell about the future and activity of layer two networks after Ethereum 2 and its update. Of course, before we discuss this issue, we must get to know Ethereum and the reason for the introduction of Ethereum 2.
Ethereum is an open source platform that enables the execution of smart contracts. The project was founded by Vitalik Buterin and a team of developers in 2015.
Ethereum uses blockchain technology and is based on a token called “Ether”. Ether not only acts as a digital currency on the Ethereum network, but is also used to pay for the execution of smart contracts and network transactions.
Currently, Ethereum Core is based on a Proof-of-Work (PoW) architecture that is used to verify transactions and create blocks. But with increasing use and more transactions in the network, problems such as high cost, long verification time and limited scalability have arisen. Ethereum 2.0 introduces a new architecture called Proof-of-Stake (PoS), which instead of using computing power to verify transactions, is a method that is determined based on the assets and stake of Ether owners. This structural change allows Ethereum to have greater scalability, higher speed in verifying transactions, and lower costs.
In addition, Ethereum 2.0 offers other features such as improved smart contracts and improves the security and stability of the network.
The Ethereum developers and community see these changes as an important development in the development of the network and hope that with the implementation of Ethereum 2.0, the current limitations and problems will be removed and the network will be ready for larger and ever-increasing uses.
Ethereum 2 introduces a number of major changes and improvements over the previous version of Ethereum. Below we will mention some of these changes:
After Ethereum 2 and its update, Layer 2 Networks will continue to play an important role in the Ethereum ecosystem and blockchain development programs. Layer two networks are tools that improve the ability to increase the speed and cost of transactions in the blockchain.
Layer two networks are actually layers that are built on the main block chain (Mainchain) and allow transactions and smart contracts to be executed in a separate layer outside the main chain. These networks are usually considered due to their high speed, lower cost and better scalability.
For example, layer two networks can use technologies such as scaling, state channels, and plasma to increase the number of transactions that can be processed and lower costs. Also, by using layer two networks, they enable the implementation of complex smart contracts and multiplayer online games in the blockchain.
Therefore, after Ethereum 2 and its update, layer two networks will continue to be developed and used and will play an important role in improving the speed, cost and scalability of the Ethereum blockchain.
The future and activity of layer two networks after Ethereum 2 is evaluated positively due to the significant reforms and improvements it will create in the main Ethereum. Increasing the ability of thousands of transactions per second (Transactions Per Second), reducing the cost of transactions and improving the security and scalability of the network. There are improvements that can act as a stimulus for more use of layer two networks.
