2. Zero Knowledge Rollups: it proves that transactions are valid using proof algorithms and send the proof to the Layer 2 blockchain which is then validated to the Layer 1 blockchain.
Understanding this helps me know about Layer 1 and Layer 2.
Layer 2: is like an express lane on top of Layer 1. It batches transactions, making them faster and cheaper but still relies on Layer 1 for final security.
There are two main Layer types:
1. Optimistic Rollups: which assumes that transactions are valid until it is challenged
Ever wondered what Layer 1 vs Layer 2 actualy means?
A brief explanation of the difference.
Layer 1: is the base blockchain, Ethereum, Bitcoin, Solana - they all validate everything on their own but they can be slow and & expensive.
Yabacon Meet is BACK! 🚀🚀🚀
Get ready for an incredible experience on Saturday, December 7th, at The Zone, Gbagada, as we embrace this year’s theme: #InnovatingForABrighterTomorrow 💡.
We’re excited to announce a ₦1,000,000 GRANT to support Lagos-based innovators! Are you ready to showcase your groundbreaking ideas?
🌟 Here’s how to enter our competition:
1️⃣ Get your ticket: Visit https://t.co/XRgonfiaM4 and grab yours now!
2️⃣ Follow us on X (Twitter) @YabaconAfrica
3️⃣ Submit your pitch: Create a 60-second video pitching your idea, and upload it on X. Don’t forget to use the hashtags #ym24 and #ifabt in your post to make it count!
💡 Pro Tip: Engage your audience! The more likes and reposts, the better your chances of catching our team’s attention.
🏆 What’s Next?
Our team will carefully review all submissions and announce the Top 5 finalists, who’ll pitch live at Yabacon Meet for the ₦1,000,000 GRANT!
Deadline: Submit your pitch by Monday, December 2nd, 2024, at 8 PM. Late entries will not be considered.
🔥 Don’t miss out on this life-changing opportunity. Tag your innovative friends and let’s make it happen! 🚀
#YabaconMeet2024 #ym24 #ifabt #Innovation #Grant #Lagos