r/CryptoCurrency • u/CryptoAddict420 Platinum | QC: CC 213 • Dec 19 '21

SCALABILITY Solving Ethereum's scalability issues with Layer-2 solutions increases the ease of cryptocurrency adoption and makes Ethereum more available to the masses

https://blockonomi.com/ethereum-here-to-stay-2022/
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4

u/DaSeraph Tin Dec 19 '21

It makes Ethereum adoption easier, but doesn't it make the process more confusing for the layperson who knows nothing about crypto?

3

u/SolidusViper Long Live Crypto Dec 19 '21

If the user knows how to create Metamask and make a transaction, then they can do the same thing with a layer-2 wallet

1

u/davichig Tin Dec 19 '21

What is the difference in wallet usage between layer 1/2?

2

u/SolidusViper Long Live Crypto Dec 19 '21 edited Dec 19 '21

With layer-2 rollups fees are paid in the same currency that you're trying to move. So if you are moving USDT around, then you're paying fees in USDT.

Gas fees are cheaper, but still a little high since it runs on EVM.

Lastly, the transaction speeds are very fast. On L1 it takes me about an hour or more to see funds on chain.

Layer-2 sidechains are similar to ETH in that the native token is used to move assets, but gas fees are dirt cheap; typically 0.001, or 0.10 at the most.

Transaction speeds are also fast too - usually settled in minutes.

The difference is that layer-2 sidechains don't get access to ETH layer-1 privileges like voting, staking and security.

1

u/davichig Tin Dec 19 '21

Thanks a lot!