Quote from: dimonstration on Today at 12:48:15 PM

Quote from: passwordnow on Today at 09:10:19 AM

Quote from: Z390 on Today at 07:04:54 AM

We have few layer 1 projects in the crypto space right now and new ones are showing up but the thing is no layer 1 project fixed every layer 1 problems yet so why are layer 2 projects showing up in numbers? Do we really need layer 2 projects right now? I watched a CZ and Crypto banter interview on Youtube and CZ claimed we don't need layer 2 yet.

I'm not technically good with these layers and stuff. But you know what, these updates and upgrades are becoming of a hype buzz and they're capitalizing it while they can.
Investors and traders are riding those things and not just CZ knows and understands this thing. But on this market, when there seems to be a genius idea, they're using it for them to use so that more investors and traders would come by to their projects.

Layer 1 is the blockchain like Bitcoin, Ethereum and Solana while Layer 2 are those side chain project like Optimism that helps Layer 1 project to unload some transaction by processing it on Layer 2 instead of going to Layer 1 directly that will make the network busy.

Layer 2 is necessary for those blockchain that has a very network such as Ethereum but completely useless on blockchain that has hast network confirmation such as BSC. I think CZ comment is for his BSC because it really doesn’t require it.

I agree, CZ is only commenting about BSC and has nothing to do about other cryptocurrency. The need of layer 2 is dependent on how well Layer 1 of the coin is performing. If layer 1 cannot maintain its scalability and being hindered due to high volume of transaction, causing delays of confirmation, then that is where layer 2 comes in.

Even though CZ stated that BSC does not need layer at this moment, there are times during the peak of BSC projects hypes where BSC also lagged and demand higher gas fee.