Cryptocurrency Q&A
How do you use Layer-2 crypto?
How do you use Layer-2 crypto?
KatanaSharp
Thu Nov 07 2024
|
7
answers
1123
I'm interested in understanding how to utilize Layer-2 crypto. Could you explain the process of using it, including any necessary steps or considerations?
7 answers
CryptoLegend
Fri Nov 08 2024
To access an L2, a user must first deposit their L1 funds, such as ether, into the L2 system.
Was this helpful?
274
75
ZenBalanced
Fri Nov 08 2024
This minimized interaction with the blockchain allows L2 users to enjoy lower transaction fees.
Was this helpful?
101
94
Silvia
Fri Nov 08 2024
By reducing the cost of transactions, L2 systems make blockchain technology more accessible and user-friendly.
Was this helpful?
272
63
ShintoBlessing
Fri Nov 08 2024
This deposit process is facilitated through a "bridge," which serves as a gateway between the L1 and L2 networks.
Was this helpful?
56
58
Ilaria
Fri Nov 08 2024
Once the funds are successfully deposited, the user can then begin transacting on the L2 platform.
Was this helpful?
103
43
Load 5 more related questions
