In the contemporary world, cryptocurrencies are ever changing and transforming with new features being introduced periodically. From emergence of Layer 2 scalability solutions to the growth of decentralized finance and the application of the artificial intelligence, there has been continuous revolution in the crypto world. This blog is going to highlight some of the recent crypto revolutionary features in the field of finance and technology.
Layer 2 Scaling Solutions:
One of the most daunting problems with blockchain networks such as Ethereum is scalability. The increasing number of transactional operations may have adverse consequences on the network because it will literally be somewhat congested, which will slow about transaction times and even increase the fees. Layer 2 scaling solutions are designed to help solve this problem by enabling transactions to be made away from the main chain. Some Layer 2 solutions implemented are Optimistic Rollups, Zero-Knowledge Rollups and plasma. This is enhancing the ability to transact over block chains promptly and at very minimal costs hence encouraging use and efficiency of blockchain networks.