Chains

What is Layer 1 & Layer 2?



NOTE: As you cruise along this series, you will notice how fast the DeFi space is; both in terms of execution and change. So if you happen to spot a discrepancy between what is being said and what is shown on screen, particularly in regards to numbers, it is due to the rapid nature of DeFi. Keep it in mind and have a look at the links provided below for the updated data.

At first glance, DeFi — or decentralised finance, can appear a little intimidating to get started with. For those who feel lost or don’t know where to begin, we’ve put together a series of 30 films that will gently place you into the world of DeFi and explain what it is, how it works, and where to get started. We will cover the basics, and a little extra, concisely as possible. It is up to you to take the leap of faith.

Graphics
https://decrypt.co/47293/ethereum-user-spends-9300-in-fees-to-send-120
https://medium.com/mycrypto/eth2-0-everything-you-need-to-know-eb32fbfe0bd
https://www.tokendaily.co/blog/the-state-of-ethereum-l2
https://medium.com/the-capital/layer-1-vs-layer-2-what-you-need-to-know-about-different-blockchain-layer-solutions-69f91904ce40

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Edit by Alp Gasimov

Written by DeFi Dad

This series is produced by Harmony Protocol.
https://www.youtube.com/harmonyprotocol/

#thedefiant #defi #decentralized #finance #blockchain

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  10. Would you make a video about layer 3? Your explanations are awesome. What is this layer 3 that Stakenet is claiming? They say they've combined layer 2 protocols to allow transactions on layer 3 and I wonder what it means.

  11. Very informative, thanks. I wish you would also explain about layer 3 DEX. Stakenet XSN combines Lightning Network and Connext and allows DEX on layer 3, it's the first crypto ever done something like that. Do you know anything about it?

  12. You think that you have explained something in this video… but I am more confused now then when I clicked on this video.

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