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Gate.io Research: The Development Status and Prospect of Layer 2 Protocol
Gate.io Research: The Development Status and Prospect of Layer 2 Protocol
2020-04-26 06:00:55 UTC
130310 Read
As blockchain technology has been applied to a wide variety of fields, there is a more prominent call from the community to enhance blockchain processing speeds. Therefore, the capacity expansion technology has gained increasing traction. As a result, various scaling solutions have been consecutively developed and are consistently being improved. Currently, the common scaling solutions are centered around the research and development of Layer0, Layer1, and Layer2. Normally, the capacity expansion schemes applied to different public chains will differ in the light of their development trends. In this report, Gate.io Research mainly analyzes two major capacity expansion technologies, namely State Channels, and Sidechains. It discusses the prospect of Lightning Network and Plasma by comparing the two as well.
Key Takeaways
-The barrier of the capacity expansion technology lies in the difficulty to improve the scalability of blockchain while guaranteeing its security and decentralization at the same time.
-At present, State Channels, Sidechains, and Tenfold Protocol are scaling technologies of Layer2; however, they are still underway to obtain a sufficient balance between security, decentralization, and scalability.
-Lightning Network and Plasma are two scaling solutions of State Channels and Sidechains that are respectively applied to the BTC blockchain and the Ethereum blockchain. Nevertheless, each of them is confronted with limitations while expanding its scalability.
-How to balance the relationship between the scalability and security of the BTC blockchain has become a focal point on the roadmap of Lightning Network’s development. How to achieve a rapid and easy payment channel is one of the significant routes of BTC’s development.
-Plasma requires a sophisticated technology to accomplish the security of an off-chain trade without supervision; hence, to combine the scaling solution with other schemes could make a breakthrough at an early date.
Click here to download the report
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Gate.io
April 26, 2020
Key Takeaways
-The barrier of the capacity expansion technology lies in the difficulty to improve the scalability of blockchain while guaranteeing its security and decentralization at the same time.
-At present, State Channels, Sidechains, and Tenfold Protocol are scaling technologies of Layer2; however, they are still underway to obtain a sufficient balance between security, decentralization, and scalability.
-Lightning Network and Plasma are two scaling solutions of State Channels and Sidechains that are respectively applied to the BTC blockchain and the Ethereum blockchain. Nevertheless, each of them is confronted with limitations while expanding its scalability.
-How to balance the relationship between the scalability and security of the BTC blockchain has become a focal point on the roadmap of Lightning Network’s development. How to achieve a rapid and easy payment channel is one of the significant routes of BTC’s development.
-Plasma requires a sophisticated technology to accomplish the security of an off-chain trade without supervision; hence, to combine the scaling solution with other schemes could make a breakthrough at an early date.
Click here to download the report
Gate.io is a trading platform that does not charge listing fees, only launches quality projects, and provides users with 100% guaranteed and instant deposit-withdrawal services.
Get 30% of all referees' trading fees in the affiliate program at https://www.gate.io/myaccount/myreferrals
Click to Sign up ：https://www.gate.io/m#/register
Download it now at: https://www.gate.io/mobileapp
Scan and download at:
Gate.io New Features:
Spot Trading on Gate.io (200+ tokens):https://www.gate.io/trade/BTC_USDT
Margin Trading on Gate.io (Long or Short):https://www.gate.io/margin_trade/BTC_USDT
Perpetual Contract Trading:https://www.gate.io/futures_trade/BTC_USD
Lending on Gate.io (secure and stable, high annual return):https://www.gate.io/margin/lend/USDT
C2C Trading on Gate.io:https://www.gate.io/c2c/usdt_cny
Download Gate.io APP:https://www.gate.io/mobileapp
Download Wallet.io (ALL in ONE):https://www.wallet.io/
Follow us and get updated at (Follow as to win bonus)
Facebook: https://facebook.com/gateioglobal
Twitter: https://twitter.com/gate_io
Telegram：https://t.me/gate_zh
Instagram：https://www.instagram.com/gateioglobal
Medium：https://medium.com/@gateio
Gate.io
April 26, 2020
