Layer-2 scaling solutions are designed to boost transaction throughput and lower costs on top of a Layer 1 blockchain.
These solutions handle transactions off chain and settle them on the main blockchain periodically, reducing congestion and transaction costs.
Types of Layer 2 solutions range from payment channels to complex smart contract interactions, meeting various demands.
These solutions are crucial for addressing scalability, transaction speed, and expensive fees, making blockchain technology more accessible and fostering broader adoption.