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DOMAINS TOKEN-G

Ronald Maguire

15 April 2022 267 Read Crypto , Blockchain , Resources

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Three Incompatible Features of L1 Blockchains

Layer 1 blockchains can only offer two of the three benefits simultaneously. L2 blockchains enable the simultaneous use of all three of these benefits: scalability, decentralization and security. Layer 2 solutions provide three big technologies available to everyone.

Trilogy

Decentralization allocates network control on blockchains to all members in the network. Thus, the network cannot be managed by specific people or authority.

Security prevents attacks on the network by protecting the blockchain with strong defense methods. Control of the network always remains with all members of the network.

Scalability serves to keep transaction times and transaction costs constant as the number of users and transactions in the blockchain network increases. Networks such as Ethereum, which have scalability problems, may require paying high transaction fees for each transaction.

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