EDUCATION

An introduction to Layer 1 and Layer 2 Blockchain Protocols

Over the past few years, blockchain technology has grown considerably in terms of popularity and mass adoption. Once only known as the technology that powers Bitcoin, blockchain is now used by thousands of companies across the globe. The number one concern of any company that is currently working with or planning to implement blockchain is scalability. A viable solution to the scalability issue that is currently plaguing blockchain technology is called “Layer 2.” At its core, Layer 2 is a protocol that resides on top of the original blockchain layer and manages transactions between users through side chains.

EDUCATION

What is an ERC-20 Token?

Most tokens in the digital asset space are built on blockchain technology using one of a number of protocols. As new projects have launched, there have been more and more tokens that share basic features, but have different approaches to varying issues. One of the most popular token types is an Ethereum based token known as an ERC-20 token.

EDUCATION

Ethereum an Overview

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. Ethereum uses a public blockchain similar to bitcoin, but also enables advanced programmable transactions types.